{"id":1355,"date":"2024-05-09T21:15:38","date_gmt":"2024-05-10T01:15:38","guid":{"rendered":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/?post_type=chapter&#038;p=1355"},"modified":"2024-06-12T14:42:00","modified_gmt":"2024-06-12T18:42:00","slug":"an-introduction-to-excels-binom-dist-formula","status":"publish","type":"chapter","link":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/chapter\/an-introduction-to-excels-binom-dist-formula\/","title":{"raw":"An Introduction to Excel's BINOM.DIST()","rendered":"An Introduction to Excel&#8217;s BINOM.DIST()"},"content":{"raw":"<div class=\"textbox textbox--learning-objectives\"><header class=\"textbox__header\">\r\n<p class=\"textbox__title\">Learning Objectives<\/p>\r\n\r\n<\/header>\r\n<div class=\"textbox__content\">\r\n\r\nUnderstand and use Excel's BINOM.DIST() function.\r\n\r\n<\/div>\r\n<\/div>\r\nAgain, we can use Excel's <span style=\"font-size: 20.5333px\">= <\/span><span style=\"background-color: #ffffff;color: #000000\"><a style=\"background-color: #ffffff;color: #000000\" href=\"https:\/\/support.microsoft.com\/en-us\/office\/binomdist-function-506a663e-c4ca-428d-b9a8-05583d68789c#:~:text=Returns%20the%20individual%20term%20binomial,is%20constant%20throughout%20the%20experiment.\">BINOM.DIST<\/a><\/span><span style=\"font-size: 20.5333px\">([latex]x[\/latex], [latex]n[\/latex], [latex]p[\/latex], cumulative) function:<\/span>\r\n<ul>\r\n \t<li><span style=\"font-size: 20.5333px\">[latex]x[\/latex] = number of 'successes'<\/span><\/li>\r\n \t<li><span style=\"font-size: 20.5333px\">[latex]n[\/latex] = number of trials<\/span><\/li>\r\n \t<li><span style=\"font-size: 20.5333px\">[latex]p[\/latex] = probability of success<\/span><\/li>\r\n \t<li>cumulative = either TRUE (1) or FALSE (0) -<\/li>\r\n<\/ul>\r\nWe will use cumulative = FALSE (0) for now and explain more on this in the next section.\r\n<h1>A First Example Using Excel's binom.dist (Video)<\/h1>\r\nLet us revisit the same salesperson example from the previous section in the next example.\r\n<h2>Example 25.1.1<\/h2>\r\n<strong><span style=\"color: #003366\">Problem Setup<\/span><\/strong>: Again, let a salesperson call 10 clients in a day. Let the odds of the salesperson making a sale with any one of the clients be [latex] p[\/latex]=0.3\r\n\r\n<span style=\"color: #003366\"><strong>Question<\/strong><\/span>: What is the probability of that 4 of her 10 calls in a day will result in sales? Use Excel to solve this problem.\r\n\r\n<span style=\"color: #003366\"><strong>Solution<\/strong><\/span>: <a href=\"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-content\/uploads\/sites\/2128\/2024\/05\/Example25-1-1.xlsx\">Click here<\/a>\u00a0to download the Excel solutions. Also, see the video below:\r\n\r\nhttps:\/\/youtu.be\/Ks57X9aNFBo\r\n<h1>Calculating Multiple Probabilities Using Excel (VIDEO)<\/h1>\r\nLet us explore using Excel to calculate the probabilities for all possible outcomes in the Salesperson problem.\r\n<h2>Example 25.1.2<\/h2>\r\n<strong><span style=\"color: #003366\">Problem Setup<\/span><\/strong>: Again, let a salesperson call 10 clients in a day and 0.3 be the odds of the salesperson making a sale.\r\n\r\n<span style=\"color: #003366\"><strong>Question<\/strong><\/span>: What are the probabilities for the salesperson making any number of sales (between 0 and 10) in a day?\r\n\r\n<span style=\"color: #003366\"><strong>Solution<\/strong><\/span>: <a href=\"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-content\/uploads\/sites\/2128\/2024\/05\/Example25-1-2.xlsx\">Click here<\/a>\u00a0to download the Excel solutions. Also, see the video below\r\n\r\nhttps:\/\/youtu.be\/QONDeDV2pKI\r\n<h1>Key Takeaways (EXERCISE)<\/h1>\r\n<div class=\"textbox textbox--key-takeaways\"><header class=\"textbox__header\">\r\n<p class=\"textbox__title\">Key Takeaways: An Introduction to Excel's BINOM.DIST()<\/p>\r\n\r\n<\/header>\r\n<div class=\"textbox__content\">\r\n\r\n[h5p id=\"65\"]\r\n\r\n[h5p id=\"66\"]\r\n\r\n<\/div>\r\n<\/div>\r\n<h1>Your Own Notes (EXERCISE)<\/h1>\r\n<ul>\r\n \t<li>Are there any notes you want to take from this section? Is there anything you'd like to copy and paste below?<\/li>\r\n \t<li>These notes are for you only (they will not be stored anywhere)<\/li>\r\n \t<li>Make sure to download them at the end to use as a reference<\/li>\r\n<\/ul>\r\n[h5p id=\"16\"]","rendered":"<div class=\"textbox textbox--learning-objectives\">\n<header class=\"textbox__header\">\n<p class=\"textbox__title\">Learning Objectives<\/p>\n<\/header>\n<div class=\"textbox__content\">\n<p>Understand and use Excel&#8217;s BINOM.DIST() function.<\/p>\n<\/div>\n<\/div>\n<p>Again, we can use Excel&#8217;s <span style=\"font-size: 20.5333px\">= <\/span><span style=\"background-color: #ffffff;color: #000000\"><a style=\"background-color: #ffffff;color: #000000\" href=\"https:\/\/support.microsoft.com\/en-us\/office\/binomdist-function-506a663e-c4ca-428d-b9a8-05583d68789c#:~:text=Returns%20the%20individual%20term%20binomial,is%20constant%20throughout%20the%20experiment.\">BINOM.DIST<\/a><\/span><span style=\"font-size: 20.5333px\">([latex]x[\/latex], [latex]n[\/latex], [latex]p[\/latex], cumulative) function:<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 20.5333px\">[latex]x[\/latex] = number of &#8216;successes&#8217;<\/span><\/li>\n<li><span style=\"font-size: 20.5333px\">[latex]n[\/latex] = number of trials<\/span><\/li>\n<li><span style=\"font-size: 20.5333px\">[latex]p[\/latex] = probability of success<\/span><\/li>\n<li>cumulative = either TRUE (1) or FALSE (0) &#8211;<\/li>\n<\/ul>\n<p>We will use cumulative = FALSE (0) for now and explain more on this in the next section.<\/p>\n<h1>A First Example Using Excel&#8217;s binom.dist (Video)<\/h1>\n<p>Let us revisit the same salesperson example from the previous section in the next example.<\/p>\n<h2>Example 25.1.1<\/h2>\n<p><strong><span style=\"color: #003366\">Problem Setup<\/span><\/strong>: Again, let a salesperson call 10 clients in a day. Let the odds of the salesperson making a sale with any one of the clients be [latex]p[\/latex]=0.3<\/p>\n<p><span style=\"color: #003366\"><strong>Question<\/strong><\/span>: What is the probability of that 4 of her 10 calls in a day will result in sales? Use Excel to solve this problem.<\/p>\n<p><span style=\"color: #003366\"><strong>Solution<\/strong><\/span>: <a href=\"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-content\/uploads\/sites\/2128\/2024\/05\/Example25-1-1.xlsx\">Click here<\/a>\u00a0to download the Excel solutions. Also, see the video below:<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"An Introduction to Excel&#39;s BINOM.DIST() Formula\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Ks57X9aNFBo?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h1>Calculating Multiple Probabilities Using Excel (VIDEO)<\/h1>\n<p>Let us explore using Excel to calculate the probabilities for all possible outcomes in the Salesperson problem.<\/p>\n<h2>Example 25.1.2<\/h2>\n<p><strong><span style=\"color: #003366\">Problem Setup<\/span><\/strong>: Again, let a salesperson call 10 clients in a day and 0.3 be the odds of the salesperson making a sale.<\/p>\n<p><span style=\"color: #003366\"><strong>Question<\/strong><\/span>: What are the probabilities for the salesperson making any number of sales (between 0 and 10) in a day?<\/p>\n<p><span style=\"color: #003366\"><strong>Solution<\/strong><\/span>: <a href=\"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-content\/uploads\/sites\/2128\/2024\/05\/Example25-1-2.xlsx\">Click here<\/a>\u00a0to download the Excel solutions. Also, see the video below<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-2\" title=\"Using Excel&#39;s BINOM.DIST to calculate multiple probabilities\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/QONDeDV2pKI?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h1>Key Takeaways (EXERCISE)<\/h1>\n<div class=\"textbox textbox--key-takeaways\">\n<header class=\"textbox__header\">\n<p class=\"textbox__title\">Key Takeaways: An Introduction to Excel&#8217;s BINOM.DIST()<\/p>\n<\/header>\n<div class=\"textbox__content\">\n<div id=\"h5p-65\">\n<div class=\"h5p-iframe-wrapper\"><iframe id=\"h5p-iframe-65\" class=\"h5p-iframe\" data-content-id=\"65\" style=\"height:1px\" src=\"about:blank\" frameBorder=\"0\" scrolling=\"no\" title=\"Key Takeaways for An Introduction to Excel&#039;s BINOM.DIST() Formula\"><\/iframe><\/div>\n<\/div>\n<div id=\"h5p-66\">\n<div class=\"h5p-iframe-wrapper\"><iframe id=\"h5p-iframe-66\" class=\"h5p-iframe\" data-content-id=\"66\" style=\"height:1px\" src=\"about:blank\" frameBorder=\"0\" scrolling=\"no\" title=\"Key Takeaways for An Introduction to Excel&#039;s BINOM.DIST() Formula Solutions\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h1>Your Own Notes (EXERCISE)<\/h1>\n<ul>\n<li>Are there any notes you want to take from this section? Is there anything you&#8217;d like to copy and paste below?<\/li>\n<li>These notes are for you only (they will not be stored anywhere)<\/li>\n<li>Make sure to download them at the end to use as a reference<\/li>\n<\/ul>\n<div id=\"h5p-16\">\n<div class=\"h5p-iframe-wrapper\"><iframe id=\"h5p-iframe-16\" class=\"h5p-iframe\" data-content-id=\"16\" style=\"height:1px\" src=\"about:blank\" frameBorder=\"0\" scrolling=\"no\" title=\"Key takeaways, notes and comments from this section document tool.\"><\/iframe><\/div>\n<\/div>\n","protected":false},"author":865,"menu_order":2,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-1355","chapter","type-chapter","status-publish","hentry"],"part":231,"_links":{"self":[{"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/pressbooks\/v2\/chapters\/1355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/wp\/v2\/users\/865"}],"version-history":[{"count":10,"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/pressbooks\/v2\/chapters\/1355\/revisions"}],"predecessor-version":[{"id":1953,"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/pressbooks\/v2\/chapters\/1355\/revisions\/1953"}],"part":[{"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/pressbooks\/v2\/parts\/231"}],"metadata":[{"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/pressbooks\/v2\/chapters\/1355\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/wp\/v2\/media?parent=1355"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/pressbooks\/v2\/chapter-type?post=1355"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/wp\/v2\/contributor?post=1355"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/1130sandbox\/wp-json\/wp\/v2\/license?post=1355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}