Consider an event that will either occur or not. For example, the event might be that California

Question:

Consider an event that will either occur or not. For example, the event might be that California will experience a major earthquake in the next five years. You let p be the probability that the event will occur. Does it make any sense to have a probability of p? Why or why not? If so, what might this look like? How would you interpret it?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...