Random Variables Archives - Statistics Tutorials

Binomial Probability Distribution

March 30, 2020May 17, 2020 admin No Comments

Binomial Distribution is used to find probabilities related to Dichotomous Population. It can be applied to a Binomial Experiment where it can result in only two outcomes. Success or Failure. In Binomial Experiments, we are interested in the number of Successes.

Probability, Probability Distributions

Expected Value

March 19, 2020May 17, 2020 admin No Comments

Expected Value is the average value we get for a certain Random Variable when we repeat an experiment a large number of times. It is the theoretical mean of a Random Variable. Expected Value is based on population data. Therefore it is a parameter.

Probability, Probability Distributions, Statistics