Used when the distribution is more peaked than a normal distribution. It is also known as the double exponential distribution, because it is often considered as two exponential distributions, one positive and one negative. The Laplace distribution is used for modeling in biology, finance, and economics. For example, the Laplace distribution has been used to model stock market returns.
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The Laplace distribution is represented by the dashed line, and the normal distribution is represented by the solid line. |
The Laplace distribution is defined by 2 parameters: location and scale.
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