10 | Binomial Probability

When a discrete variable has only TWO possible outcomes (per observation), then it is a Binomial variable. The calculations of probabilities, expected value and variance are all different from the ones we just covered (for discrete probability distributions). I walk you through a question here that covers all of the new methods introduced with binomial variables.

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Lesson tags: ADMS 2320, ADMS 2320 Chapter 7 Lessons, ADMS 2320 Term Test 2, binomial ()
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