The document provides an overview of the binomial probability distribution including key terminology like outcomes, random experiments, sample space, random variables, binomial distribution, Bernoulli process, and the assumptions of the binomial distribution. It also discusses how to find probabilities using the binomial probability formula and provides examples to illustrate its application, including calculating the probability of getting a certain number of successes in a given number of trials.
The document provides an overview of the binomial probability distribution including key terminology like outcomes, random experiments, sample space, random variables, binomial distribution, Bernoulli process, and the assumptions of the binomial distribution. It also discusses how to find probabilities using the binomial probability formula and provides examples to illustrate its application, including calculating the probability of getting a certain number of successes in a given number of trials.
The document provides an overview of the binomial probability distribution including key terminology like outcomes, random experiments, sample space, random variables, binomial distribution, Bernoulli process, and the assumptions of the binomial distribution. It also discusses how to find probabilities using the binomial probability formula and provides examples to illustrate its application, including calculating the probability of getting a certain number of successes in a given number of trials.
• Random experiment:- Experiments whose outcomes are
not predictable.
• Random Event:- A random event is an outcome or set of
outcomes of a random experiment that share a common attribute.
• Sample space:- The sample space is an exhaustive list of all the possible outcomes of an experiment, which is usually denoted by S. Continued………. • Mutually Exclusive Event. • Random Variable : A random variable is a numerical description of the outcome of a statistical experiment. – Discrete Random Variable . – Continuous Random Variable. • Binomial Distribution:- The Binomial Distribution describes discrete , not continuous, data, resulting from an experiment known as Bernoulli process. Continued……… • Bernoulli process : A process in which each trial has only two possible outcomes, the probability of the outcome at any trial remains fixed over time, and the trials are statistically independent. • Notation(parameters) for Binomial Distributions. S and F (success and failure) denote two possible categories of all outcomes. P(S) = p (p = probability of success) P(F) = 1 – p = q (q = probability of failure) n =denotes the number of fixed trials. Continued……….. – p =denotes the probability of success in one of the n trials. – q =denotes the probability of failure in one of the n trials. – P(x) =denotes the probability of getting exactly x successes among the n trials. • x = denotes a specific number of successes in n trials, so x can be any whole number between 0 and n, inclusive. Assumptions for binomial distribution
• For each trial there are only two possible
outcomes on each trial, S (success) & F (failure). • The number of trials ‘ n’ is finite. • For each trial, the two outcomes are mutually exclusive . • P(S) = p is constant. P(F) = q = 1-p. • The trials are independent, the outcome of a trial is not affected by the outcome of any other trial. • The probability of success, p, is constant from trial to trial. Method for Finding Probabilities Using the Binomial Probability Formula Binomial distribution: ten trials with p = 0.5 Measures of Central Tendency and dispersion for the Binomial Distribution. Illustration • A brokerage survey reports that 30% of individuals investors have used a discount broker. In a random sample of nine individuals , what is the probability that (a) Exactly two of the sampled individuals have used a discount broker? (b) Not more than three have used a discount broker. (c) At least three of them used a discount broker . Solution… Assignment • A multiple choice test contains 8 questions with three answers to each questions ( of which only one is correct ). A student answers each questions by rolling a balanced dice and checking the first answer if he gets 1 or 2 , the second answer if he gets 3 or 4 , and the third answer if he gets 5 or 6 . To get a distinction , the student must secure at least 75% correct answers . If there is no negative marking , what is the probability that the student secures a distinction?