Join Eddie Davila for an in-depth discussion in this video Binomial experiments: When there are only two possible outcomes, part of Statistics Foundations: 1.
- When an experiment has only two possible outcomes,…the result is what we call a binomial random variable.…A coin flip can only result in heads and tails.…Eligible voters can either vote or not vote.…A patient can either test positive…or negative for a disease.…These are possible binomial random variables,…provided we have n trials…with a probability of success we call p.…In other words, if we take our coin and flip it four times,…n is equal to four, the number of flips,…p is equal to 0.5, the chance of success,…which either can be heads or tails in this case.…
How 'bout if we take voter turnout?…Let's say there are 5,000 registered voters.…And let's say the probability a registered voter…will actually vote is 60%.…Now, n equals 5,000…and p is equal to 0.6, or 60%.…Let's use binomials to solve a problem.…Suppose an organization has a monthly meeting.…New people attend the meeting each month,…but only 20% end up joining the organization.…
Suppose three people attend this month's meeting,…Tom, Lori, and Fred.…What are the chances one of those three people…
Author
Eddie Davila
Released
9/18/2016Professor Eddie Davila covers statistics basics, like calculating averages, medians, modes, and standard deviations. He shows how to use probability and distribution curves to inform decisions, and how to detect false positives and misleading data. Each concept is covered in simple language, with detailed examples that show how statistics are used in real-world scenarios from the worlds of business, sports, education, entertainment, and more. These techniques will help you understand your data, prove theories, and save time, money, and other valuable resources—all by understanding the numbers.
- Calculate mean and median for specific data sets.
- Explain how the mode is used to assess a data set.
- Identify situations in which standard deviation can be used to investigate individual data points.
- Use mean and standard deviation to find the Z-score for a data point.
- List the three different categories of probability.
- Analyze data to determine if two events are dependent or independent.
- Predict possible outcomes for a situation using basic permutation calculations.
- Give examples of binomial random variables.
Skill Level Beginner
Duration
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Introduction
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Welcome2m 20s
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1. The World of Statistics
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Is my data set good?3m 42s
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2. The Center of the Data
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Weighted mean4m 25s
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3. Data Variability
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4. Distribution and Relative Position
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5. Probability Explained
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Defining probabilty3m 46s
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Examples of probability3m 46s
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Types of probability4m 53s
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6. Multiple Event Probability
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Even more of Bayes theorem3m 53s
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7. How Objects Are Arranged
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8. Discrete vs. Continuous Probability Distributions
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9. Discrete Probability Distributions
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Expected monetary value4m 10s
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10. Continuous Probability Distributions
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Fuzzy central limit theorem2m 11s
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Conclusion
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Video: Binomial experiments: When there are only two possible outcomes