There is a very interesting answer given by Peter Shor in this website here. However, I admit I don't fully understand it.
In particular, I don't understand:
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If we have a probability density μv on quantum states v, we can predict any experimental outcome from the density operator
What is the formula given? Is it $\operatorname{trace}{\left(\rho A\right)}$ for an observable $A$?
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a probability distribution on quantum states is an overly specified distribution, and it is quite cumbersome to work with
How can we work with the density operator if, from an experimental point of view, all we can measure is the probability distribution?