A binomial distribution is basically a type of distribution that has only two possible outcomes: Success or Failure. An example would be toss of a typical coin...you either get a heads or tails. If you choose heads , that would be your success and tail would be the failure. Now if we wanted to calculated the probability of success based on X number of tosses, there is actually a formula to calculate that probability. Excel makes it really easy, but I'll show four different ways to get this answer.
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