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If you happen to’ve been following my articles, you’ve probably noticed my recent emphasis on probability distributions. I’ve spent a variety of time talking about their importance, and for good reason. If you happen to’ve already grasped why these distributions are crucial, this text will function a pleasant reinforcement. If not, I hope this text will provide some latest insights for you!
Let me ask you an issue
Why are probability distributions so necessary? Why will we spend a lot time studying probability density functions (PDFs) and cumulative distribution functions (CDFs)? Hint: The reply is determined by whom you ask.
Nevertheless, you almost certainly got here here for a more direct answer. So… for me… I’ll answer that query by helping you understand extreme values like Xₘᵢₙ and Xₘₐₓ (If you happen to just want the reply, please skip to the top of the article)!
Hopefully my explanations are intuitive and accessible, without unnecessary jargon.
