The Normal Distribution is a continuous probability distribution defined by the mean and standard. It is one of the most common distributions because it describes many natural phenomena.

A probability distribution, usually displayed graphically, shows the relative likelihood of all possible outcomes occurring within a specific time period.

Normal probability distribution is assumed in financial models; however, the returns of many securities tend to demonstrate a non-normal distribution.

A uniform distribution is a probability distribution where all outcomes are equally likely. Due to its limited and unique values, a die exhibits uniform distribution.