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Binomial Setting
Fixed number of observations
All observations are independent
There are only “success” and “failure” outcomes
The probability for “success”, s, is the same for each outcome
This does not mean each outcome has a 50% chance of happening, just that each outcome has the same chance of happening (ex. chance of someone picking up is 20% everytime)
Ex) Baby births are independent and have equal chances of being a girl or boy
Binomial Distribution
The number of a specific occurrence in a binomial setting
BinomPDF
Use when x is exactly 1 number
Ex) X = 6
BinomCDF
Use when x can be several numbers
Ex) X > 6
Binomial Coefficient
(n over k) = n!/ k!(n-k)!