In a raffle with 20 tickets, 6 tickets are drawn for prizes. The first prize winner gets $\$20$, 2 second prize winners get $\$10$, and three third prize winners get $\$5$. What is the sample space ...

The total area under the curve must equal 1, representing the fact that the probability of some outcome occurring within the entire range is certain. \[\int_{-\infty}^{\infty}f\left(x\right)dx=1\] ...

Amusement park patrons, wanting to go on a log ride, might not have to wait in line at all, they might have to wait for hours, or the wait could be anywhere in between. For a random log rider, the ...

The normal distribution (also known as the Gaussian distribution) is arguably the most important distribution in Statistics. It is often used to represent continuous random variables occurring in ...

Sampling from probability distributions with known density functions (up to normalization) is a fundamental challenge across various scientific domains. From Bayesian uncertainty quantification to ...

Discover how probability distribution methods can help predict stock market returns and improve investment decisions. Learn ...