Geometric distribution can be defined as a discrete probability distribution that represents the probability of getting the first success after having a consecutive number of failures. The success probability, denoted by p, is the same for each trial.There can only be two outcomes of each trial - success or failure.The trials being conducted are independent.I.e., Geometric distribution that is based on three important assumptions. The geometric distribution is a probability distribution that models the number of trials required to achieve the first success in a sequence of independent Bernoulli trials, where each trial has a constant probability of success. Standard Deviation of Geometric Distribution Geometric Distribution Mean (Expected Value) In this article, we will study the meaning of geometric distribution, examples, and certain related important aspects. For example, in financial industries, geometric distribution is used to do a cost-benefit analysis to estimate the financial benefits of making a certain decision. The geometric probability distribution is widely used in several real-life scenarios. In other words, in a geometric distribution, a Bernoulli trial is repeated until success is obtained and then stopped. A Bernoulli trial is an experiment that can have only two possible outcomes, ie., success or failure. Geometric distribution is a type of discrete probability distribution that represents the probability of the number of successive failures before a success is obtained in a Bernoulli trial.
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