Types of Probability Distributions

What is a Probability Distribution?

A probability distribution is a statistical function that describes all the possible values and likelihoods that a random variable can take within a given range. This range will be bounded between the minimum and maximum possible values, but precisely where the possible value is likely to be plotted on the probability distribution depends on a number of factors. These factors include the distribution’s mean (average), standard deviation, skewness, and kurtosis.

Mostly used types of Distributions are following:

Bernoulli Distribution

The Bernoulli distribution is one of the easiest distributions to understand and can be used as a starting point to derive more complex distributions. The Bernoulli distribution is the discrete probability distribution of a random variable which takes a binary, boolean output: 1 with probability p, and 0 with probability (1-p). The idea is that, whenever you are running an experiment that might lead either to a successor to a failure, you can associate with your success (labeled with 1) a probability p, while you're in success (labeled with 0) will have probability (1-p).