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BA325
Math 6
Probability distribution
Term: 6th
page 1
Types of Probability Distributions:
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distribution is the normal distribution. It is used to describe the
probability of a certain event occurring within a certain range. For
example, the probability of a person's height being between 5'6"
and 6'0".
page 3
Applications of Probability Distributions:
Probability distributions are widely used in various fields,
including finance, engineering, science, and economics. In
finance, probability distributions are used to calculate the risk of
an investment. For example, the probability of a stock losing a
certain percentage of its value within a certain time frame.
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Conclusion:
Probability distribution is a branch of statistics that deals with the
study of random variables and the probability of their occurrence.
There are two types of probability distributions: discrete and
continuous. Discrete probability distribution is used when the
variable is discrete, and continuous probability distribution is used
when the variable is continuous. Probability distributions are
widely used in various fields, including finance, engineering,
science, and economics.
page 5
References:
https://www.scribbr.com/statistics/probability-distributions/
#:~:text=A%20probability%20distribution%20is%20an,by
%20its%20probability%20of%20occurrence.
https://en.wikipedia.org/wiki/Probability_distribution
https://www.investopedia.com/terms/p/
probabilitydistribution.asp
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