Examlex
What do good economic models do?
Normal Probability
Describes the likelihood of an event occurring under a normal distribution, characterized by a symmetrical, bell-shaped curve.
Poisson Distribution
A discrete probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, given a known constant rate of occurrence.
Standard Normal
A special case of the normal distribution used in statistical analysis where the mean is 0 and variance is 1.
Area
The extent or measurement of a surface, typically measured in square units.
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