Axiomatic definition of Probability. Bayes' theorem. Repeated trials. Continuous and discrete random variables and their probability distribution and density functions. Functions of random variables ...

The Bottom Line Probability distribution functions (PDFs) describe the expected values of random variables drawn from a sample. The shape of the PDF explains how likely it is that an observed ...

Madelyn Goodnight / Investopedia A probability distribution is a statistical function that describes all values a random variable can take within a given range and the likelihood that they will.

For example, in the case of the tossing of an unbiased coin, if there are 3 trials, then the number of times a ‘head’ appears can be a random variable. Probability Distribution: A probability ...