The mean of the binomial distribution with n observations and probability of success p is
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Number of observations = n
Probability of success = p
Probability of failure = 1 - p
Statistics experts made the formula for mean of binomial distribution to be np.
In n trials, proportion of success to that of failure would be 'p' itself. Multiplying it with number of trials, n, gives us the mean.
Also, variance for a binomial distribution = npq.
Probability of success = p
Probability of failure = 1 - p
Statistics experts made the formula for mean of binomial distribution to be np.
In n trials, proportion of success to that of failure would be 'p' itself. Multiplying it with number of trials, n, gives us the mean.
Also, variance for a binomial distribution = npq.
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