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population size, and size of firms is the Pareto family. One such member of the P family is the following pdf. Find the mean of X f(x)= = { C x3 0 x ≥ 2 x < 2

population size, and size of firms is the Pareto family. One such member of the P family is the following pdf. Find the mean of X f(x)= = { C x3 0 x ≥ 2 x < 2

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A family of pdf's that has been used to approximate the distribution of income, city population size, and size of firms is the Pareto family. One such member of the Pareto family is the following pdf. Find the mean of X ƒ(x) = C x3 0 x > 2 x < 2
Transcribed Image Text:A family of pdf's that has been used to approximate the distribution of income, city population size, and size of firms is the Pareto family. One such member of the Pareto family is the following pdf. Find the mean of X ƒ(x) = C x3 0 x > 2 x < 2
Expert Solution
Step 1

Given that 

Pdf of X is 

f(x) = (c/x3)  , x > 2

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