How to use R to calculate and simulate using the log-normal distribution. If this vid helps you, please help me a tiny bit by mashing that 'like' button. For more #rstats joy, crush that 'subscribe' button!
Thank you so much. Your channel is unmatchable. For random simulation purposes - If I have an income $ per year dataset (on a level basis) Should I just take the LN of the data, get the mean and standard deviation of the LN data and use it to run the simulation? If so, do I have to convert it back to the level form to interpret the results and get percentiles of the simulated data? Thank you for your guidance.
You can find materials supporting this vid (and others) at github.com/equitable-equations/youtube.
what is the program name?
Thank you so much. Your channel is unmatchable.
For random simulation purposes - If I have an income $ per year dataset (on a level basis)
Should I just take the LN of the data, get the mean and standard deviation of the LN data and use it to run the simulation?
If so, do I have to convert it back to the level form to interpret the results and get percentiles of the simulated data? Thank you for your guidance.