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1) The probability distribution of a variable describes the probability of the variable attaining a certain value. The distribution assumed by an option pricing model is crucial to that model’s predictions, since it determines the likelihood of the option being exercised.
2) The delivery of electricity to the retail customer’s home or business from the main grid through low-voltage distribution lines. Low voltages range from 2,300 to 69,000 volts.
3) The delivery of gas from the city or plant to the customer.
* see also transmission facility