Light

Binomial Model

Definition

The binomial model is a probability model used to describe the number of successes in a fixed number of independent Bernoulli trials, where each trial has the same probability of success.

Analogy

Imagine you are flipping a fair coin multiple times. Each time you flip the coin, you have a 50% chance of getting heads (success) and a 50% chance of getting tails (failure). The binomial model helps us predict how many times we will get heads after a certain number of flips.

Related terms

Success: A success refers to the desired outcome in an experiment or trial. For example, if we define "getting heads" as our success in flipping a coin, then landing on heads would be considered a success.

Bernoulli Trials: Bernoulli trials are independent experiments or trials with two possible outcomes - success or failure. Each trial has the same probability of success.

Probability Distribution: A probability distribution is a function that describes the likelihood of different outcomes occurring in an experiment or event. In the case of the binomial model, it provides probabilities for different numbers of successes in a fixed number of trials.