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The bivariate normal distribution is a continuous joint distribution for two variables which when plotted looks like the three dimensional analogue of the “bell curve”. It is a generalization of a normal distribution for...

The Poisson distribution is a discrete probability distribution that is used to model real-life events that occur rarely or in situations where the probability of an event occurring is proportional to the time which...

Truncated distributions are those distributions for which some of the domain values have been cut off as they cannot be realistically attained in some given real-life application. We need to make changes in the...

A compound probability distribution is the distribution of some combination of independent and identically distributed variables whose parameters themselves follow some probability distribution. Compound Poisson Distribution: Suppose X1,…, XN are independent and identically distributed Poisson variables...

The geometric distribution is a discrete probability distribution that is used to calculate the probability of failing in a certain number of successive Bernoulli trials before success is achieved. How is the geometric distribution...

This is a discrete joint probability distribution. It is used when a particular trial is conducted ‘n’ number of times where each trial can have two or more outcomes. The binomial distribution is a...