The Pareto distribution is a continuous, long-tailed distribution that is commonly used to model traffic patterns in network modeling, the size of insurance claims, and income levels in economic modeling.
It requires two inputs, a shape parameter (a) and a scale parameter (b), which defines the lower bound and mode of the Pareto distribution. Both of these parameters must be positive numbers.
GoldSim also allows you to truncate the distribution by checking the Truncated box and specifying a Maximum.
Related topics…
- Beta Distribution
- BetaPERT Distribution
- Binomial Distribution
- Boolean Distribution
- Cumulative Distribution
- Discrete Distribution
- Exponential Distribution
- Externally-Defined Distribution
- Extreme Probability Distribution
- Extreme Value Distribution
- Gamma Distribution
- Generalized Beta Distribution
- Log-Normal Distribution
- Negative Binomial Distribution
- Normal Distribution
- Pareto Distribution
- Pearson Type III Distribution
- Poisson Distribution
- Sampled Results Distribution
- Student’s t Distribution
- Triangular Distribution
- Uniform Distribution
- Weibull Distribution