probability distribution

probability distribution
The mathematical function describing the probability of different events, as described by values for a variable. A symmetrical distribution (one where to values are evenly distributed around the mean) is called a bell curve, a normal distribution or Gaussian bell curve. Values that are far more widely spread from the mean are said to have "fat tails", an informal name for kurtosis. Credit risk and liquidity risk have distributions that are very asymmetrical a phenomena called " skewness". American Banker Glossary
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A function that describes all the values a random variable can take and the probability associated with each. Also called a probability function. Bloomberg Financial Dictionary

Financial and business terms. 2012.

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