Probability Density Function (PDF)

Definition

The probability density function (PDF) is used to describe the likelihood of different outcomes for a continuous random variable. It gives us information about relative frequencies rather than actual probabilities.

Related terms

Cumulative Distribution Function (CDF): The cumulative distribution function gives us the probability that a random variable takes on a value less than or equal to a specific value.

Standard Deviation: The standard deviation measures the spread or variability of values in a probability distribution.

Exponential Distribution: An exponential distribution is often used to model the time between events occurring at a constant rate.