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Q. Explain Binomial Distribution?
Ans.
The binomial distribution occurs when you are considering the probability function of a binomial experiment.
Binomial Experiment:
An experiment is called binomial if it satisfies the following conditions:
1) The experiment has two types of outcomes: success and failure
2) The experiment is repeated n independent times.
3) The probability of success, p, is the same each time.
Kara borrowed $3,650 for one year at an annual interest rate of 16%. How much did Kara pay in interest? To ?nd out 16% of $3,650, multiply $3,650 through the decimal equivalent
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