The Binomial
A discrete variable that can result in only one of two outcomes is called binomial. For example, a coin flip is a binomial variable; but drawing a card from a standard deck of 52 is not. Whether a drug is either successful or unsuccessful in producing results is a binomial variable, as is whether a machine produces perfect or imperfect widgets.
Binomial experiments
Binomial experiments require the following elements:
* The experiment consists of a number of identical events ( n).
* Each event has only one of two mutually exclusive outcomes. (These outcomes are called successes and failures.)
* The probability of a success outcome is equal to some percentage, which is identified as a proportion, π.
* This proportion, π, remains constant throughout all events and is defined as the ratio of number of successes to number of trials.
* The events are independent.
* Given all of the above, the binomial formula can be applied ( x = number of favorable outcomes; n = number of events):
I hope the above explanation was useful.
A discrete variable that can result in only one of two outcomes is called binomial. For example, a coin flip is a binomial variable; but drawing a card from a standard deck of 52 is not. Whether a drug is either successful or unsuccessful in producing results is a binomial variable, as is whether a machine produces perfect or imperfect widgets.
Binomial experiments
Binomial experiments require the following elements:
* The experiment consists of a number of identical events ( n).
* Each event has only one of two mutually exclusive outcomes. (These outcomes are called successes and failures.)
* The probability of a success outcome is equal to some percentage, which is identified as a proportion, π.
* This proportion, π, remains constant throughout all events and is defined as the ratio of number of successes to number of trials.
* The events are independent.
* Given all of the above, the binomial formula can be applied ( x = number of favorable outcomes; n = number of events):
I hope the above explanation was useful.
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