Theorizing Probability Distribution in Applied Statistics

Abstract

This paper investigates into theoretical knowledge on probability distribution and the application of binomial, poisson and normal distribution. Binomial distribution is widely used discrete random variable when the trails are repeated under identical condition for fixed number of times and when there are only two possible outcomes whereas poisson distribution is for discrete random variable for which the probability of occurrence of an event is small and the total number of possible cases is very large and normal distribution is limiting form of binomial distribution and used when the number of cases is infinitely large and probabilities of success and failure is almost equal.