binomial distribution
Definition
Frequency distribution where only two (mutually exclusive) outcomes are possible, such as better or worse, gain or loss, head or tail, rise or fall, success or failure, yes or no. Therefore, if the probability of success in any given trial is known, binomial distributions can be employed to compute a given number of successes in a given number of trials. And it can be determined if an empirical distribution deviates significantly from a typical outcome. Also called Bernoulli distribution after its discoverer, the Swiss mathematician Jacques Bernoulli (1654-1705). See also poisson distribution.
binomial distribution is in the Quality Control & Management and Statistics, Mathematics, & Analysis subjects.
binomial distribution appears in the definitions of the following terms: Bernoulli distribution, poisson distribution and Cox, Ross, & Rubinstein Option-Pricing Model
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