A probability distribution is a list of all events of an experiment together with the probability associated with each event in a tabular form. It is used for business and economic problems.
We learned frequency distribution to classify data, relating to actual observations and experiments but probability distribution describes how outcomes are expected to vary. Probability distribution for rolling a true die x P(x) Events Frequencies Probability 1 1 1/6 2 1 1/6 3 1 1/6 4 1 1/6 5 1 1/6 6 1 1/6 Total: 1
Note: Probability distribution is a list of probabilities of all possible outcomes that could result if the experiment were done, but a relative frequency distribution lists the observed
