Probability Distribution

Probability Distribution: A Probability Distribution is a mathematical function that provides the possibilities of occurrence of different possible outcomes in an experiment. In simple words, it shows the set of all possible outcomes of a certain event and how likely they are to occur. This could be represented in a graph, table, or equation that provides a probability (a number between 0 and 1) to each possible event. In marketing, a probability distribution might be used to predict sales outcomes or response rates.