Bernoulli Distribution

• Description: Represents the outcome of a single trial that results in either a success (1) or failure (0).
• Parameter(s):     - $p$: probability of success, where $0\le p\le 1$
• Use Case: Modeling binary events like “claim/no claim”, “fraud/no fraud”.
• Mean: $p$  
• Variance: $p(1-p)$