Testing for the Pareto distribution
Conference
64th ISI World Statistics Congress - Ottawa, Canada
Format: CPS Poster
Keywords: statistics,
Abstract
We propose new classes of goodness-of-fit tests for the Pareto type I distribution. These tests are based on a characterization of the Pareto distribution involving order statistics. We derive the limiting null distribution of the tests and also show that the tests are consistent against fixed alternatives. The finite sample performance of the newly proposed tests are evaluated and compared to some of the existing tests, where it is found that the new tests are competitive in terms of powers.