Events that follow the uniform distribution relate to outcomes with equal probability. Rolling a standard six-sided die is a good case in point.
In a fact, a large number of everyday situations follow the Uniform distribution, too. If a friend of yours offers you 3 identical chocolate bars, the probabilities assigned to you choosing one of them also follow the Uniform distribution.
A major shortcoming of the uniform distributions is that the expected value provides us with no relevant information.
Because all outcomes have the same probability, the expected value when throwing a die, which is 3.5, brings no predictive power.
Other related topics you might be interested to explore are Normal distribution and Binomial distribution.
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Uniform distribution is among the topics included in the Quantitative Methods module of the CFA Level 1 Curriculum.
