I'm writing an essay that's looking at the presence of the Pareto Principle in data. Unfortunately, as a consequence of interest, I've picked a topic that involves statistical analysis well above what I've been taught so far.
I'm looking at two data sets, one from my workplace around sales and another looking at macroeconomic wealth data. I've run my first data set, the sales data, through Eviews in an EDF test for the presence of a Pareto distribution but I cannot find any literature in layman's terms that helps me understand whether or not I can/can't reject the null hypotheses, or even what the null hypotheses are. The attached image shows the results. I was able to replicate the MLE estimate for alphahat in excel and achieved the same 0.713 value, I understand this is a shape parameter for the distribution but I don't know what information this tells me, please help me interpret these results. Additionally any information of a good reference for understanding the Pareto distribution in wealth would be very helpful.