Intro to Business Analytics
The binomial distribution is a probability distribution that describes the number of successes in a fixed number of independent Bernoulli trials, each with the same probability of success. This distribution is key to understanding scenarios where there are two possible outcomes, such as success or failure, which is fundamental to many real-world situations involving binary outcomes. Its properties help in calculating probabilities related to discrete events and play an important role in statistical inference and hypothesis testing.
congrats on reading the definition of Binomial Distribution. now let's actually learn it.