From the course: Statistics Foundations 2: Probability

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Binomials

Binomials - Microsoft Excel Tutorial

From the course: Statistics Foundations 2: Probability

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Binomials

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- When an experiment has only two possible outcomes, we call this a binomial random variable. A coin flip can only result in heads and tails. Eligible voters can either vote or not vote. A patient can either test positive or negative for a disease. These are possible binomial random variables provided we have n trials with a probability of success we call p. Typically in stats, n is the number of instances. In other words, if we take our coin and flip it four times, n is equal to four, the number of flips, p is equal to 0.5, the chance of success which can be either heads or tails in this case. How do we take voter turnout? Suppose there are 5,000 registered voters, and let's say the probability a registered voter will actually vote is 60%. In this situation, n is equal to 5,000 and p is equal to 0.60 or 60%. Let's use binomials to solve a problem. Suppose an organization has a monthly meeting. New people attend the…

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