Question

What shows the possible outcomes of a random experiment and the probability of each outcome?

Answer 1

The possible outcomes of a random experiment and the probability of each outcome is called "a Probability Distribution."

What is a Probability Distribution?

A probability is a statistical formula that indicates all of the potential values and probability distributions for a random variable within a specified range.

Some characteristics regarding the Probability Distribution are-

• The range will be bounded by the minimum and greatest possible values, but the precise location of the possible value just on probability distribution relies on a number of factors.
• These variables include the mean (average), standard deviation, skewness, & kurtosis of the distribution.
• Although other regularly used probability distributions exist, the normal distribution, called "bell curve," is perhaps the most common.
• Typically, the technique of generating data for a phenomenon will influence its probability distribution. This is known as the probability density function.
• Likelihood distributions can also be used to generate cumulative distribution functions (CDFs), that cumulatively build up the probability of occurrences and always begin at zero and end at 100%.

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