Consider the following pareto distribution fx 3x4 when x


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Consider the following Pareto distribution f(x) = 3/(x^4) when x ≥ 1 and f(x) = 0 when x < 1. A sample x(1), . . . , x(n) of size n = 1000 is available from this distribution. What procedure would you suggest for providing an estimation of E[(5X + 1)^2 ].

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Mathematics: Consider the following pareto distribution fx 3x4 when x
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