I am trying to model the wealth distribution of Germany with "random numbers".
Looking at diagrams, it seems to me that the wealth is distributed like Pareto. Hence, I considered using the rpareto(n, location, shape = 1) function. Would you generally agree with that?
Now, obviously "n" would be my sample size. But how do I find the settings for location and shape? Do I somehow have to use the Gini Coefficent or must I download some data and use the fitdistrplus package to find my parameters?
Note that im new to R and dont know much about statistics. Thank you all :)