ABSTRACT

This chapter provides the definition of a statistical distribution. It also provides the implementation of distributions. The chapter explores the different types of parametric distributions. Statistical modeling is the art of building parsimonious statistical models for a better understanding of the response variables of interest. A statistical model deals with uncertainties and therefore it contains a stochastic or random part, that is, a component which describes the uncertain nature of the response variable. The main instrument to deal with uncertainty in mathematics is the concept of probability and all statistical models incorporate some probabilistic assumptions by assuming that response variables of interest have a probabilistic distribution. Outcomes of the experiment are grouped into events.