Distributions (Allocations)
Distributions, or allocations, refer to the process of dividing and distributing resources, goods, or funds among various recipients or categories. This can occur in various contexts, such as in finance, where profits are allocated to shareholders, or in logistics, where products are distributed to different locations. The goal is to ensure that resources are shared fairly and efficiently based on predetermined criteria.
In the context of statistics, distributions describe how values are spread or allocated across a range. For example, a normal distribution shows how data points cluster around a mean value, while other types, like uniform distributions, indicate that all outcomes are equally likely. Understanding these distributions helps in analyzing data and making informed decisions.