tomorrow i have to present an exercise which is about estimating the MLE of a Pareto-Distribution. I wanted to add a funny background story to make my presentation a little bit more interesting. Could you provide me some funny ideas about things that could be described by a pareto-distribution?
closed as off-topic by Lee David Chung Lin, José Carlos Santos, Alexander Gruber♦ Apr 11 at 16:15
This question appears to be off-topic. The users who voted to close gave this specific reason:
- "This question is not about mathematics, within the scope defined in the help center." – Lee David Chung Lin, José Carlos Santos, Alexander Gruber
You should probably use the Pareto 80/20 law.
E.g. $20\%$ of all people receive $80\%$ of all income.
This phenomenon can be seen in the Pareto distribution when $\alpha$ is set to a particular value.