Business Finance Homework Help

Many probability experiments can be reduced to two outcomes: success or failure. For example, a surgeon performs a surgery on a patient. Either the surgery was successful (success) or the surgery was unsuccessful (failure). Probability experiments such as these are called Binomial Probability Distributions.

Instructions

In your initial post:

• Discuss the requirements of a binomial probability distribution.
• Provide two real-world examples of a binomial experiment.
• Make sure to specify why these are binomial experiments.
• Determine the values of n, x, p, and q for each real-world example.

In your reply post:

• Reflect on your peer’s post and discuss what makes another student’s examples similar and different from your own examples.
• Or expound on how these can be defined as discrete random variables and why they are not continuous random variables.