meaning of binomial distribution

binomial distribution meaning in Law Dictionary

whenever anything can end just two means. Its often much better or worse, yes or no, or head or tail for example. If the success probability is known than a calculation are made. Its used to see if deviation is achievable from typical result. AKA Bernou

binomial distribution meaning in Business Dictionary

Frequency circulation in which only two (mutually exclusive) effects are possible, particularly much better or worse, gain or reduction, mind or tail, increase or autumn, success or failure, yes or no. For that reason, if likelihood of success in just about any offered trial is well known, binomial distributions can be used to compute a given range successes in certain number of studies. And it may be determined if an empirical distribution deviates considerably from a normal outcome. Also called Bernoulli circulation after its discoverer, the Swiss mathematician Jacques Bernoulli (1654-1705). See also poisson distribution.

binomial distribution meaning in General Dictionary

a theoretical circulation of the amount of successes in a finite set of independent tests with a constant likelihood of success