Question

How can you visualize the Pareto distribution using a histogram?

Answer 1

You can generate random numbers from the Pareto distribution using NumPy and then create a histogram to visualize the distribution. Here's an example code snippet to do that:

import numpy as np
import matplotlib.pyplot as plt

alpha = 2.0
num_samples = 1000

# Generate random numbers from the Pareto distribution
pareto_samples = np.random.pareto(alpha, num_samples)

# Create a histogram
plt.hist(pareto_samples, bins=30, density=True, alpha=0.6, color='b')

plt.title(f'Pareto Distribution (alpha = {alpha})')
plt.xlabel('Value')
plt.ylabel('Density')
plt.grid(True)
plt.show()