Common Parametric Distributions
Free SOA Exam P (Probability) lesson in Univariate Random Variables. 14 min read, ~2,127 words.
Exponential: memoryless, mean =, variance =, CDF =. Uniform: constant density, mean =, variance =. Normal: symmetric bell, fully specified by and, closed under linear combinations. Gamma: sum of exponentials (same scale), mean =. Pareto: heavy tail, limited expected value has a closed form with exponent.
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- 2a
- 2b
- 2c
- 2d
- 2e
- 2f
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