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''Statistics.''
== Summary ==
 
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A discrete probability distribution built up from a series of binomial trials.
 
 
The binomial distribution can be an appropriate model for processes where:
 
#The process consists of a limited whole number of identical trials or situations (n).
#Each trial results in just one of only two possible outcomes (eg success or failure).
#The probability of success (p) remains constant for each trial.
#The trials are independent, and
#Primary interest lies in the probability of a specified number of successes (or of failures) in the n trials.
 
 
For example, the total number of sales achieved in a fixed number of sales appointments, assuming the probability of achieving a sale remains constant for each appointment.
 
 
== See also ==
* [[Binary]]
* [[Binomial]]
* [[Discrete random variable]]
* [[Distribution]]
* [[Frequency distribution]]
* [[Poisson distribution]]
 
[[Category:The_business_context]]

Latest revision as of 09:29, 27 July 2023

Summary

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