Lec8 Binomial and Poisson Distributions

Lec8 Binomial and Poisson Distributions

1. The Binomial Distribution

   • The Probability Distribution for the Binomial
     • The Mean, Variance, Standard Deviation
     • The Expected Value= The Mean
       • •sample size n     multiplied by the probability of an outcome
     • Calculating Probabilities for Binomial Distributions = excel BINOM.DIST
       • Use BINOM.DIST(value,n,p,True or False)
         • •Choose “True” to obtain a cumulative probability. •Choose “False” to obtain a probability for an exact value.
     • The Variance:
       • •The variance is the sample size n     multiplied by the probabilities of either outcome.
     • The Standard Deviation
       • The standard deviation is the square   root of the variance, and is of more   interest.

2. The Poisson Distribution

   • The Probability Distribution for the Poisson
     • •The Mean, Variance, Standard Deviationh
   • Calculating Probabilities for Poisson Distributions = excel POISSON.DIST