Applications of Continuous Probability Distribution
Continuous Probability Distribution functions have various applications in real life that includes:
From finance to physics, engineering to health care, as we focus on continuous probability distributions, we begin to uncover its contributions across a wide variety of fields.
- Finance and Economics
- Physics and Engineering
- Demography and Social Sciences
- Healthcare and Biology
- Quality Control and Manufacturing
Real Life Applications of Continuous Probability Distribution
A Continuous Probability Distribution is a statistical concept that describes the probability distribution of a continuous random variable. It specifies the probabilities associated with various outcomes or values that the random variable can take within a specified range.
In this article, we’ll look into Real Life Applications of Continuous Probability Distribution.