Use
LogGammaDistribution to model incomes at a large state university:
Adjust part-time salaries to full-time salaries and select nonzero values:
Fit a Pareto distribution into the data:
Compare the histogram of the data to the PDF of the estimated distribution:
Find the average income at the large state university:
Find the probability that a salary is at most $15000:
Find the probability that a salary is at least $150000:
Find the median salary:
Simulate the incomes for 100 randomly selected employees of such a university:
Log-gamma distribution can be used to estimate evaluation times:
Fit log-gamma distribution into the data:
Compare the histogram of the data to the PDF of the estimated distribution:
Find the median evaluation time:
Find the upper quartile evaluation time: