Probability Density Function (PDF)

Definition

The probability density function (PDF) is used to describe the likelihood of different outcomes for a continuous random variable. It gives us information about relative frequencies rather than actual probabilities.

Analogy

Think of PDF as an instruction manual for baking cookies. It tells you the proportions of ingredients needed (relative frequencies) but not the exact number of cookies you'll get (actual probabilities).

Related terms

Cumulative Distribution Function (CDF): The cumulative distribution function gives us the probability that a random variable takes on a value less than or equal to a specific value.

Standard Deviation: The standard deviation measures the spread or variability of values in a probability distribution.

Exponential Distribution: An exponential distribution is often used to model the time between events occurring at a constant rate.