pareto_test {ptsuite} | R Documentation |
The pareto_test function can be used to identify whether the data is Pareto distributed (Gulati and Shapiro 2008). The test generates a p-value corresponding to the actual distribution of the data and is tested for significance. In the case of Pareto data, the p-value should be greater than the pre-determined significance level (generally taken as 0.05).
pareto_test(dat)
dat |
vector of observations |
A list of the following form:
p-value indicating significance of the test
Gulati S, Shapiro S (2008). "Goodness-of-Fit Tests for Pareto Distribution." In F Vonta (ed.), Statistical Models and Methods for Biomedical and Technical Systems, chapter 19, pp. 259-274. Birkhauser Basel. ISBN 978-0-8176-4619-6. doi:10.1007/978-0-8176-4619-6.
x <- generate_pareto(10000, 5, 2) pareto_test(x)