DavisDistribution can be used to model incomes:
Adjust part-time to full-time and select nonzero values:
Fit Davis distribution into the data:
Compare the histogram of the data to the PDF of the estimated distribution:
Find average income at a large state university:
Find the probability that a salary is at most $150,000:
Find the probability that a salary is at least $150,000:
Find the median salary:
Simulate the incomes for 100 randomly selected employees of such a university:
BetaPrimeDistribution can be used to model state per capita incomes:
Fit Davis distribution into the data:
Compare the histogram of the data to the PDF of the estimated distribution:
Find average income per capita:
Find states with income close to the average:
Find the median income per capita:
Find states with income close to the median:
Find log-likelihood value:
Compare with the fit using
BetaPrimeDistribution:
Compare with the fit using
DagumDistribution:
Compare with the fit using
LogLogisticDistribution: