About
We will briefly look at the definition of the log-normal and then go onto calculate the distribution’s parameters μ and σ from simple data. We will then have a look at how to calculate the mean, mode, median and variance from this probability distribution.
Informal Definition
The log-normal distribution is a right skewed continuous probability distribution, meaning it has a long tail towards the right. It is used for modelling various natural phenomena such as income distributions, the length of chess games or the time to repair a maintainable system and more.