Now that an expert on the binomial distribution, consider one or two venues – sa
ID: 3339941 • Letter: N
Question
Now that an expert on the binomial distribution, consider one or two venues – say at the work place, social function or other venue where you might consider binomial distribution analysis to increase efficiency, responsiveness, awareness, etc. Recall, the binomial distribution is “Yes / No – so, whatever the project – an advertising campaign, marketing project, “Oh let us say a political campaign” given the political realm –the ultimate result is an “up-down”. “yes/no”, “true/false”
Again, we need not do any data collection or completion of the binomial distribution via Excel, - just present one or two ideas or situations.
Explanation / Answer
Answer:
There are several real life situations where the binomial distribution is useful. There are so many variables, where only two outputs are available. For example, suppose an XYZ person is a candidate for local municipal election and you were only asked, ‘whether you are in favour of the person XYZ or not?’; then there will be only two options ‘yes/no’. Suppose we asked same question for 20 people and found that 7 persons are in favour while 13 persons are not in favour. Then for this binomial distribution, the parameters will be n = 20, and p = 7/20.
Let us consider second situation. Suppose manufacturing company produces the iron products with specific weight. The company inspector inspects whether the weight of the products are lies within specific range or not. Inspector only checks whether the weight of the product is allowable or not. Inspector randomly selects the random sample of 20 items and weighs these products. Suppose, inspector found that 1 of the item is out of defined specification of weight range. For this situation, the parameters of the binomial distribution will be n = 20, p = 1/20.
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