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Business Mathematics and Statistics > Theoretical Distributions

Theoretical Distributions

Statistical Distributions: In the real world, we rarely come across experiments with single outcomes like heads or tails. Mostly a set of events are present and we may carry out the same experiment for n no. of times. As a result, we get a collection of outcomes which we can represent in the form of theoretical (or probability) distribution.

We can further categorize it into continuous or discrete distribution. And, to work on these distributions we need to learn about the following concepts. Furthermore, the representation of probabilities as distribution also helps in making predictions for the future outcomes.

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