A distribution provides a parameterised mathematical function that can be used to calculate the probability for any individual observation from the sample space.
The most common distributions are:
- Normal Distribution
- Student’s t-distribution
- Geometric distribution
- Bernoulli distribution
- Binomial distribution
- Poisson distribution
- Lognormal distribution
Distribution are usually described in terms of their density functions:
- PDF (Probability Density Function) is used to calculate the likelihood of a given observation in a distribution and can be represented as follow.
- CDF (Cumulative Density Function) calculates the cumulative likelihood for the observation and all prior observations in the sample space. …