Properties of Estimation for Pareto Distribution with some Applications | ||
| Journal of College of Education for Pure Science | ||
| Article 1, Volume 4, Issue 1, June 2014, Pages 149-168 | ||
| Authors | ||
| Akram M. Al-Abood; Samer M. Saleh | ||
| Abstract | ||
| In this paper we consider the Pareto distribution of two parameters , since it have many applications in economics (income and distribution of wealth), human population and many other fields. Estimation of the distribution parameters is obtained by two methods namely the modified moments method and the maximum likelihood method . Approximation to the mean and variance of the estimators is made theoretically by utilizing Taylor series expansion up to second order derivative and results assessed practically by using Monte Carlo simulation. Two applications related to Pareto distribution are discussed namely earthquake and dilution of concentration in the liquid. | ||
| Keywords | ||
| Pareto Distribution; Estimation; modified moments method | ||
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