LogLogisticDistribution can be used to model incomes:
Adjust part-time to full-time and select nonzero values:
Fit log-logistic distribution into the data:
Compare the histogram of the data to the PDF of the estimated distribution:
Find the average income at a large state university:
Find the probability that a salary is at most $150000:
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:
BetaPrimeDistribution can be used to model state per capita incomes:
Fit a log-logistic distribution into the data:
Compare the histogram of the data to the PDF of the estimated distribution:
Find the 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
DavisDistribution: