The binomial distribution is used when there are exactly two mutually exclusive outcomes of a trial. The binomial distribution is used to obtain the probability of observing k successes in N trials, with the probability of success on a single trial denoted by P.

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Intro to Statistics

These thoughts were extracted from Udacity online course and cover topics such as: Visualizing relationships in data, Probability, Estimation, Outliers and Normal Distribution, Inference and Regression.
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Marian McPartland