The probability distribution calculator is designed to determine the mean, standard deviation, and variance of a distribution.
To find the mean, variance, and standard deviation, use the following formulas:
Mean (μ) = ∑ ( k · P(x) )
Variance (σ2) = ∑ ( k2 · P(x) ) - μ2
Standard Deviation (σ) = | √σ2 |
Where,
k = Outcome Value,
P(x) = Probability of Outcome.