Probability Distribution

What is Probability Distribution?

A probability distribution is a function that describes the likelihood of different outcomes or events occurring. It is used in statistics and probability theory to model the randomness or uncertainty of a process or phenomenon.

There are many different types of probability distributions, each of which is suitable for modeling different types of data or processes. Some common types of probability distributions include the normal distribution, the binomial distribution, and the Poisson distribution.

A probability distribution is typically represented by a curve or a table that shows the probabilities of different outcomes occurring. The probabilities are typically expressed as a decimal or a percentage, and they must always add up to 1.0 (or 100%).

Probability distributions are an important tool in statistical analysis and decision-making, as they allow us to understand the likelihood of different outcomes occurring and to make informed decisions based on this information.

See Also

• IT Strategy (Information Technology Strategy)
• IT Governance
• Enterprise Architecture
• Chief Information Officer (CIO)
• IT Sourcing (Information Technology Sourcing)
• IT Operations (Information Technology Operations)
• E-Strategy