Reference Terms
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Probability distribution

In mathematics and statistics, a probability distribution, more properly called a probability density, assigns to every interval of the real numbers a probability, so that the probability axioms are satisfied.

One of many applications of probability distribution is by actuaries evaluating risk within the insurance industry.

Note:   The above text is excerpted from the Wikipedia article "Probability distribution", which has been released under the GNU Free Documentation License.
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July 2, 2015

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