what is the conceptual difference between normal distribution and log normal distribution?
thanks in advance
Dear Srikanth,
there are many differences between normal and log-normal distributions. The main and the most conceptual for modelling, I think, is that normal distribution is symmetric and log-normal distribution is right-skewed. Another one is that log-normal distribution has a tail heavier than a tail of normal distribution. And, of course, log-normal random variable is positive, whereas normal r.v. has also negative values.
The log normal distribution is ``fatter''. While the normal distribution is uniquely defined by the first and second moment (in fact any two moments of different parity) the log normal distribution requires more information.
Cf. for an example: http://iopscience.iop.org/article/10.1088/0305-4470/23/13/042/meta
A major difference in its shape. Normal distribution is symmetrical whereas log normal is not. In log normal distribution have positive values and it create a right positive skewed curve
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