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What is probability distribution?

A probability distribution is a mathematical function that describes the probabilities of different possible outcomes for a random experiment. 

For example, if we toss a coin, the probability distribution of the outcome would be 1 in 2 or 1/2 for heads and for tails. 

Uses of probability distribution

1. Statistics: Probability distributions are used in statistics to make inferences about populations based on samples. For example, we can use a probability distribution to estimate the average height of all adults in the United States based on a sample of 100 adults.
2. Machine learning: Probability distributions are used in machine learning to train algorithms to make predictions. For example, we can train a machine learning algorithm to predict whether or not a customer will cancel their subscription based on their past behavior.
3. Finance: Probability distributions are used in finance to model the behavior of financial markets. For example, we can use a probability distribution to estimate the risk of investing in a particular stock.
4. Insurance: Probability distributions are used in insurance to set premiums and calculate claims.
5. Gaming: Probability distributions are used in gaming to design games and calculate odds.

Why study probability distribution?

Studying probability distributions can give students a significant advantage in the job market: 

1. Increased job opportunities: Probability distributions are used in many job profiles like data scientist, machine learning engineer, analyst, statistician, and research scientist. By studying probability distributions, students will have access to a higher range of job opportunities.
2. Higher salaries: Employees with a strong understanding of probability distributions are in high demand and often earn higher salaries than their peers.
3. Improved problem-solving skills: Studying probability distributions can help develop better problem-solving skills. By learning how to model and analyze uncertainty, complex problems can be solved more effectively.

In addition to these specific benefits, studying probability distributions can also help in developing critical thinking and the ability to communicate complex ideas clearly and concisely. These skills are essential for success in every career.