Key Points NORMSINV is an Excel function used along with normal distributions. It allows you to conduct calculations faster ...

Probability Density vs. Cumulative Distribution The other distinction is between the probability density function (PDF) and the cumulative distribution function.

For a cumulative distribution, the probability of each discrete observation must be between 0 and 1, and the sum of the probabilities must equal one (100%).

Cumulative probability distribution. A function that shows the probability that the random variable will attain a value less than or equal to each value that the random variable can take on.