ELI5: Explain Like I'm 5

Factorial moment generating function

A factorial moment generating function is a way to figure out probabilities of different events happening. For example, it’s like a game where you have a bunch of dice and you need to figure out how likely it is that you will get a certain number when all the dice are rolled.

To figure out the probability, you would use a factorial moment generating function. First, you’ll list out all the different possible events that could happen. For example, with five dice, you can have any number from 1 to 5 on each of the dice for a total of 25 different possibilities.

Next, you’ll assign each possibility a number. For example, rolling a 3 on all five dice is the first possibility and so it would be assigned the number 1. The second possibility would be assigned the number 2, and so on until all 25 possibilities are assigned numbers.

Then, you would use math to figure out the probability of one of those events happening. To do this, you take the number you assigned to the event and put it in a formula with some other numbers. This formula is called the factorial moment generating function. If you put the right numbers into the formula, it will tell you the probability of your event happening.