Need help on the Pareto distribution, please. Thanks! I can get the mean loss amount $\displaystyle \frac {\alpha\beta}{\alpha-1} $ but I don't understand how to get (ii) and (iii)
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Originally Posted by cirrus74 Need help on the Pareto distribution, please. Thanks! I can get the mean loss amount $\displaystyle \frac {\alpha\beta}{\alpha-1} $ but I don't understand how to get (ii) and (iii) ii) $\displaystyle \bar{x}=\int_{\beta}^{\infty} x f_X(x) ~dx$ iii)$\displaystyle {\rm{var}}(X)=\int_{\beta}^{\infty} (x-\bar{x})^2 f_X(x) ~dx$ Both of which look like elementary integrals to me. RonL
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