PPT-Binomial and Geometric Distributions

Delta OnTime Performance at HartsfieldJackson Atlanta International June 2003 June 2015 httpwwwtranstatsbtsgovOTDelayotdelaycause1aspdisplaydataamppn1 Data Model Total Operations 2278897. Probability Theorem. A binomial is a polynomial with two terms such as . x. + . a. . Often we need to raise a binomial to a power. In this section we'll explore a way to do just that without lengthy multiplication.. AS91586 Apply probability distributions in solving problems. NZC level 8. Investigate situations that involve elements of chance. calculating and interpreting expected values and standard deviations of discrete random variables. Zhang . Zhuozhuo. . Calum. Johnson . Waldemar. . Pietraszkiewicz. . The binomial model is a very useful and popular technique for pricing an option.. The binomial option pricing formula is based on assumption that the stock price follows a multiplicative binomial process over discrete intervals. . Karl L. Wuensch. Department of Psychology. East Carolina University. A Binomial . Experiment. consists of . n. identical trials.. each trial results in one of two outcomes, a “success” or a “failure.”. T.Jagannadha. . Swamy. Dept of . ECE,Griet. Random Variable. A random variable . x. takes on a defined set of values with different probabilities.. For example, if you roll a die, the outcome is random (not fixed) and there are 6 possible outcomes, each of which occur with probability one-sixth. . Objectives:. By the end of this section, I will be. able to…. Explain what constitutes a binomial experiment. . Compute probabilities using the binomial probability formula.. Find probabilities using the binomial tables.. Chapter 17. Probability Models . Bernoulli Trials. The basis for the probability models we will examine in this chapter is the . Bernoulli . (. Ber. -. Noo. -Lee) . trial. .. We . have Bernoulli trials if:. What we learned last class…. We are not good at recognizing/dealing with randomness. Our “random” coin flip results weren’t streaky enough.. If B/G results behave like independent coin flips, we know how many families to EXPECT with 0,1,2,3,4 girls.. AP Statistics B. Overview of Chapter 17. Two new models: Geometric model, and the Binomial model. Yes, the binomial model involves Pascal’s triangles that (I hope) you learned about in Algebra 2. Use the geometric model whenever you want to find how many events you have to have before a “success”. . and Exponential Distributions. 5. Introduction. Several specific distributions commonly occur in a variety of business situations:. N. ormal distribution—a continuous distribution . characterized . II. BINOMIAL DISTRIBUTIONS A. Binomial Experiments 1. A binomial experiment is a probability experiment that satisfies the following conditions: a. The experiment is repeated for a fixed number of independent trials. Binomial v. Geometric The primary difference between a binomial random variable and a geometric random variable is what you are counting. A binomial random variable counts the number of "successes" The Geometric and Poisson Distributions Geometric Distribution – A geometric distribution shows the number of trials needed until a success is achieved. Example: When shooting baskets, what is the probability that the first time you make the basket will be the fourth time you shoot the ball? Sit with your group and choose a team name. Preferably something corny that has to do with statistics . Today’s game will test your strength, wit, knowledge, and endurance! Remember… HW Passes are at stake folks! May the force be with you!.