Hello math geniuses! Compsci dude here.
I'm trying to model the price distribution of a category of goods, and figure a LogNormalDistribution would provide a good fit. The problem is, I don't know how to do this with the data I have available.
I have several data points available: C(x1) to C(xn). For a given x, C(x) is the cumulative percentage of all items cheaper than x dollars. That is, if C(x) = .5, x is the median.
Given points C(x1) to C(xn), how can I find the best fit Log Normal Distribution? I suppose the question really is: how do I find the best fit log normal cumulative distribution function for a given set of points, and how "good" will the fit be?
Thanks a lot for the help!