Introduction to Binomial Distribution #1

What is binomial? The term binomial means consisting of TWO terms. In the world of statistics and probability this means an event that can have only TWO results. These events have to be mutually exclusive, that is if one occurs then the other event cannot occur. So,e examples of mutually exclusive events are given below: tossing coin for heads / tails passing or failing a test an old machine that… Read More »Introduction to Binomial Distribution #1