ptsuite (version 1.0.0)

pareto_test: Goodness of Fit Test for Pareto Distribution

Description

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).

Usage

pareto_test(dat)

Arguments

dat

vector of observations

Value

A list of the following form:

p-value

p-value indicating significance of the test

References

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.

Examples

# NOT RUN {
x <- generate_pareto(10000, 5, 2)
pareto_test(x)
# }