I have about 1000 data points from some thick tailed distribution that I would like to fit a parametrized distribution to. From my data, I've made some adjustments and constructed an empirical distribution (so I have percentiles).
What is the best way to fit a mixture of parametrized distribution functions (pareto, lognormal, gamma, etc) to this empirical distribution?
So far I have been using Excel to maximize the grouped MLE function; using solver to maximize the parameters subject to sum(weights = 1). I have R as well but am new to it. It is pretty obvious that excel is getting stuck in local maxima.
How would you maximize a MLE function for a mixture distribution?