Binomial Distributions

Binomial Probability Distributions

In this section, we examine Binomial Probability Distributions:

• They are discrete distributions
• They measure the probability of a certain number, $x$, of successes occurring
• We need both the number of trials ($n$), and the probability of success ($p$) to define a binomial distribution

The sections are organized as follows:

1. An introduction, properties of Binomial Distributions and how to calculate the probability of exactly $x$ successes using the formula.
2. How to calculate the probability of exactly $x$ successes using the Excel’s =BINOM.DIST function.
3. How to calculate the probability of at most $x$ number of successes.
4. How to calculate the probability of more than $x$ number of successes.
5. How to calculate the probability of at least $x$ successes or, $P(X\ge x)$.
6. How to calculate the mean and standard deviation of binomial distributions.