Mean and Standard Deviation of a Probability Distribution

Understanding the mean and standard deviation of a probability distribution is fundamental in statistical analysis. The mean, often referred to as the expected value, provides a measure of central tendency, indicating the average outcome. Meanwhile, the standard deviation quantifies the dispersion or spread of the distribution around the mean, offering insights into the variability of the data. Together, these statistical measures enable researchers and analysts to assess the central tendency and variability of a dataset, facilitating informed decision-making and drawing meaningful conclusions from the data.

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