Probability Theory #12 — Log-Normal Distribution

The Log-Normal Distribution is similar to the Logit-Normal Distribution but differs in two key aspects. The Logit-Normal Distribution is used for data bounded between 0 and 1, typically representing probabilities or proportions. In contrast, the Log-Normal Distribution is applied to positive data that can vary widely in range. When a variable is log-normally distributed, the natural logarithm (using the base ‘e’) follows a normal distribution. This distribution is often seen in data with right-skewed values, such as income or city sizes. <a href="https://medium.com/datafrens-sg/probability-theory-12-log-normal-distribution-5dae052f2c68">Click Here</a>