I'm developing a regression model where the dependent variable looks like a Pareto distribution. Is it possible, in SAS, to create a best fit of independent parameters to a dependent parameter with a Pareto shape? What procedure would be appropriate for that?
I apologize if this question does not make a lot of sense, but my statistics background is not enough to get my head around this one. Thanks for reading.
To clarify, the dependent variable "looks" like a Pareto when I look at a histogram of the variable - the small values are of very high probability and there is a large dropoff as the values increase.
I guess I'm struggling with how you go from a probability distribution to a regression equation where probability is not one of the variables. Thank you to all who take a look at this.
Ready to join fellow brilliant minds for the SAS Hackathon?
Build your skills. Make connections. Enjoy creative freedom. Maybe change the world. Registration is now open through August 30th. Visit the SAS Hackathon homepage.
ANOVA, or Analysis Of Variance, is used to compare the averages or means of two or more populations to better understand how they differ. Watch this tutorial for more.