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Introduction to Binomial Distribution
Binomial Distribution is closely related to Bernoulli series and is a very important topic of the subject of statistics and the theory of probability. The binomial distribution is a method of expressing the probability of the various outcomes in terms of true or false or we can say success or failure. This concept of statistical binomial distribution is used in many different areas for resolving problems in social sciences, scientific research, data analysis, and business. The process of using this method is also known as a Bernoulli trial. The mathematical model of binomial distribution works on the basis of following conditions or constraints.
- There are n number of trials and out of those trials only two results are possible at any instance
- The possibility or probability of all the individual trial is always continuous
- All the trials run on their own and not interdependent
- Mean of the binomial distributions is denoted as nP
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