Pareto
Continuous distribution for modeling inequality.
Parameters
Location: Minimum value of the distribution.
Shape: Shape of the distribution.
Applications
Applied in modeling income or wealth distributions, analyzing top customers contributing most revenue, and assessing risk of large insurance claims.
To apply Monte Carlo simulations to the inputs/outputs of your model, see the Scenarios - Monte Carlo module.
Outputs
Plot: Histogram of the distribution with selected Confidence Interval.
Data: Confidence Intervals, Summary Statistics and Percentiles. See a sample Monte Carlo output.
View demo for Normal distribution
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