Common Parametric Distributions

Free SOA Exam P (Probability) lesson in Univariate Random Variables. 15 min read, ~2,319 words.

Exponential: memoryless with CV = 1, mean, variance, CDF. Uniform: constant density, mean, variance. Normal: symmetric bell, fully specified by and, closed under linear combinations. Gamma: sum of iid exponentials (same scale), mean. Pareto: heavy tail, mean needs, variance needs, LEV closed form with exponent. Poisson: discrete counts with mean...