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The Birnbaum–Saunders distribution, also known as the fatigue life distribution, is a probability distribution used extensively in reliability applications to model failure times. The chi distribution. The noncentral chi distribution; The chi-squared distribution, which is the sum of the squares of n independent Gaussian random variables.
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In probability theory and statistics, a probability distribution is the mathematical function that gives the probabilities of occurrence of possible outcomes for an experiment. [1] [2] It is a mathematical description of a random phenomenon in terms of its sample space and the probabilities of events (subsets of the sample space). [3]
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Johnson distributions are also sometimes used in option pricing, so as to accommodate an observed volatility smile; see Johnson binomial tree. An alternative to the Johnson system of distributions is the quantile-parameterized distributions (QPDs). QPDs can provide greater shape flexibility than the Johnson system.
Probability distributions is included in the JEL classification codes as JEL: C16 Wikimedia Commons has media related to Probability distributions . The main article for this category is Probability distribution .
L-moments are statistical quantities that are derived from probability weighted moments [11] (PWM) which were defined earlier (1979). [7] PWM are used to efficiently estimate the parameters of distributions expressable in inverse form such as the Gumbel, [8] the Tukey lambda, and the Wakeby distributions.