Explain pareto distribution of random variable

Reference no: EM13114970

A random variable X has the Pareto (α, θ) distribution (where α > 0, θ > 0) if F_X(x) = 1 - (θ/(θ+x))^α for x ≥ 0.

a. For a fixed d > 0, let Y = X-d | X >d. Calculate F_Y(y) and EY.

b. Calculate E[(X-d)+]

Reference no: EM13114970

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