probability distribution

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Probability distribution

A function that describes all the values a random variable can take and the probability associated with each. Also called a probability function.

Probability Distribution

All the possible values a random variable can take under a given set of circumstances, as well as the probability that it will take each value. A normal probability is a bell curve.

probability distribution

The distribution of possible outcomes to an event along with the probability of each potential outcome. This statistical tool is used to measure the risk associated with events such as shooting craps, playing cards, or investing in securities.
References in periodicals archive ?
For one-time projects or in situations with limited budgets, it's possible to use Excel to create a Monte Carlo simulation using three of the most common probability distributions.
We generate 1000 random realisations, such that for each realisation every sample has a random point estimate: both a discrete radiocarbon date and a discrete 'standard' date obtained from their respective probability distributions.
Figure 6 shows the marginal probability distribution for 30 bins of outside air temperatures from the training data.
5 shows the probability distribution of required quality of "Material" to meet this scenario.
Monte Carlo simulation was used to simulate the play of n hands for a slot game and also the table game of baccarat, and the probability distribution of the simulated payback (for slot games) or player win/loss (for baccarat) was estimated by the histograms of the simulated means.
The sequence of more steps creates an independent random walk with the certain average step length and thus its probability distribution is of a Gaussian type.
By Equation 3, the initial value of next iterative step can be calculated to meet the joint probability distribution of current constraint.
In the absence of any historic data on road accidents in such zones, a uniform probability distribution of [y.
Likewise, given a series of discrete values of ACR in a specific range, a plot of total exceedance probability distribution can be obtained.
In order to associate the core concepts of the selected language style with the analysed actions, processes and decisions made, in the paper, as it was mentioned before, one portfolio investment management step is selected, in the beginning of which we invest a unit of capital, and possible result at the end of this step is described by investment effect possibilities' probability distribution.
Probability distribution of the input quantities is propagated to obtain the probability distribution for the output quantity using sensitivity coefficient and summarizing final result.

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