How would you mathematically model the distribution of repeated real life performance measurements - \"Real life\" meaning you are not just looping over the code in question, bu
The problem you describe is called "Distribution Fitting" and has nothing to do with performance measurements, i.e. this is generic problem of fitting suitable distribution to any gathered/measured data sample.
The standard process is something like that:
You can find interesting article describing how this can be done with open-source R software system here. I think especially useful to you may be function fitdistr.