ABSTRACT
Probability distributions encompass numerous mathematical paradigms. A probability distribution is defined as “the set of all possible values of a random variable and their associated probabilities.”2 Numerous types of probability distributions exist: normal, uniform, Cauchy, t, F, Weibull, chi-square, gamma, binomial, Poisson, and many others that are discussed within statistics or mathematical analysis texts. However, because this textbook is an introductory discussion of topics within the context of economic and financial analysis, only discrete and random probability distributions are discussed herein.
