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Binomial & Poisson

Binomial & Poisson - STAT 201 Binomial Master subtitle...

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Click to edit Master subtitle style 9/26/11 STAT 201 Binomial & Poisson Distribution
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9/26/11 Binomial-distribution Properties: 1. Experiment consist of n identical & independent trials 2. Each trial has only two outcomes , labeled as “success” and “failure” 3. the probability of a success in each trial , denoted as p, remains constant 4. We are interested in x, the number of success observed during the n trials.
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9/26/11 Binomial-distribution Formula: 2 probability of x successes in n trials: ( ) (1 ) or Use Binomial Table! mean: variance: (1 ) st.dev.: (1 ) n x n x x P x C p p n p n p p n p p μ σ σ - = - = = - = -
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9/26/11 Binomial-distribution Example: 5-23 (pg. 224) A bank manager has recently examined the credit card account balances for the customers of her bank and found that 20% have an outstanding balance that is at the credit card limit. Suppose the manager randomly selects 15 customers and finds 4 that have balances at the limit. Assume that the properties of the binomial distribution apply.
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