I am given Zi's (i = 1,2...)
form a sequence of i.i.d variables with density function:
fZ(z) = P(S1 > z)/E(S1)
Given that I know S1
follows a Pareto(1.7,70)
distribution and E(S1)
is equal to 100, how would i use R to obtain/generate random values of Z
? Like we all know how to generate random values of a normal distribution by using rnorm()
, but what if our density was custom such as above? How would I simulate values that fit that distribution?
Thank you
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