What statistical distribution is associated with Pareto?
Pareto distribution
Gaussian distribution
Poisson distribution
Chi-squared distribution
Answer
The Pareto distribution, named after the Italian economist Vilfredo Pareto, is a statistical distribution that describes the probability of events occurring in a power-law relationship. It is often used to model the distribution of wealth, income, or other phenomena that exhibit a "long tail" of extreme values.
Mastering Pareto: Exploring the Legacy of Vilfredo Pareto in Sociology and Economics