The document defines and explains the binomial distribution. It was developed by James Bernoulli in 1700 and describes the probability of success in a fixed number of binary trials where the probability of success is the same for each trial. The key points are:
- It gives the probability of x successes in n trials where the probability of success p is constant for each trial.
- The formula to calculate binomial probability is P(X) = nCx * px * q(n-x) where n is trials, x is successes, p is probability of success, and q is probability of failure (1 - p).
- Important statistics of the binomial distribution are the mean (np), variance (npq),