Lesson 1 of 4: Learning Outcome

At the end of this lesson, the learner should be able to:

1. Identify characteristics of a Binomial distribution through the assumptions for the distribution.
2. Calculate probabilities, mean and standard deviation of the Binomial distribution using relevant formulas.
3. Solve real-life business problems by applying concepts of Binomial distribution.

Lesson 2 of 4: Introduction to Binomial Distribution (10mins)

What type of random experiment qualifies to be a binomial experiment?

A binomial experiment whose intent is to know ‘the number of trials which is successful’ has to satisfy the following conditions:

• A trial is repeated for a fixed number of times in the experiment.
• Each trial has exactly 2 outcomes: success or failure.
• The probability of success (or failure) is the same for each trial.
• The trials are independent.

Binomial Distribution

• Example 1
• Example 2
• Summary

Lesson 3 of 4: Mean and Variance of a Binomial Distribution (10mins)