Discover normal distribution—a critical concept in finance—and its key properties, formula, and real-world applications. Learn how it impacts financial decision-making.

Gaussian distribution is a statistical concept that is also known as the normal distribution. For a given set of data, the normal distribution puts the mean (or average) at the center and standard ...

The few that are concerned with their multivariate extensions are mainly based on the multivariate normal assumption. The idea of this paper is to use the multivariate normal inverse Gaussian (MNIG) ...