Important Probability Distributions Discrete Probability Distributions Bernoulli Distribution Remarks: ●For Bernoulli(p), EX) P, var(X) p(1-p). ●MGF of Bernoulli(p) Mx(t)=pe +1-p for -oo<t<oo. Because p=P(X 1)and X only takes two possible values,parameter p fully characterizes the probability distribution of Bernoulli(p). Important Probability Distributions Introduction to Statistics and Econometrics June25,2019 8/135Important Probability Distributions Important Probability Distributions Introduction to Statistics and Econometrics June 25, 2019 8/135 Bernoulli Distribution Discrete Probability Distributions Remarks: