PROBABILITY DISTRIBUTIONS
Using the rules like fixed number of trials(5 times) and probability being same(1/6 for each outcome) for each experiment, we decided to use Binomial Distribution in Example 1.
Using Excel function BINOM.DIST
REFERENCES
https://www.greatlearning.in/great-lakes-pgpba/
http://stattrek.com/probability-distributions/binomial.aspx
- A Probability Distribution is a table of values showing the probabilities of various outcomes of an experiment
CONDITIONS FOR BINOMIAL DISTRIBUTIONS - BERNOULLI process
For understanding, consider example of tossing a coin twice and count the number of times the coin lands on heads.
For understanding, consider example of tossing a coin twice and count the number of times the coin lands on heads.
- Fixed number of repeated trials, i.e. n trials
- 2 coin flips
- Independent and Random trials
- Outcome is independent of earlier outcomes
- Only two outcomes of each trial, either SUCCESS or FAILURE
- Either Head or Tail
- The probability of success is UNIFORM through out n trials
- 0.5 Probability of Head as outcome in each flip of a coin
BINOMIAL DISTRIBUTIONS
- A binomial random variable is the number of successes x in n repeated trials of a binomial experiment. The probability distribution of a binomial random variable is called a binomial distribution
- Suppose we flip a coin two times and count the number of heads (successes). The binomial random variable is the number of heads, which can take on values of 0, 1, or 2. The binomial distribution is presented below
- Is a Probability Distribution of Discreet Random Variable
- Majorly used for quality control and quality assurance
- Also used in service industries like banks to get proportion customers who are satisfied with service quality
Using the rules like fixed number of trials(5 times) and probability being same(1/6 for each outcome) for each experiment, we decided to use Binomial Distribution in Example 1.
Using Excel function BINOM.DIST
REFERENCES
https://www.greatlearning.in/great-lakes-pgpba/
http://stattrek.com/probability-distributions/binomial.aspx
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