Standard parametric modelsΒΆ
Parametric models aim to describe probability distributions of a random
variable with the aid of a limited number of parameters
. Therefore, in the case of continuous variables
(i.e. where all possible values are continuous), this means that the
probability density of
can be expressed as
. In the case of discrete variables
(i.e. those which take only discrete values), their probabilities can be
described in the form
.