The monthly income (in thousands of dollars) of a family in a city, represented by a random

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The monthly income (in thousands of dollars) of a family in a city, represented by a random variable X, has the Pareto distribution (see Examples 6.6 and 6.9)

with parameters k = 4 and ???? = 2.

(i) Obtain the distribution function of X.

(ii) Find the probability that the monthly income of a randomly chosen family is between 4000 and 5000.

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Introduction To Probability Volume 2

ISBN: 9781118123331

1st Edition

Authors: Narayanaswamy Balakrishnan, Markos V. Koutras, Konstadinos G. Politis

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