Hi All,
How is the Binomial Standard Deviation calculated and what does it actually mean? What does it tell us?
I've used an example of coin tossing to hopefully simplify the overall explanation in the hope that I may grasp the concept and relate it to the UK 5/34 Thunderball Lotto.
Scenario:
100 coin tosses
Expected successes = 50
Probability p=0.5
What is the Binomial Standard Deviation for the above scenario?
I Do not know how the Binomial Standard Deviation is calculated: can you provide a step-by-step guide as to how this value is
calculated?
I am new to Probability and to the many other aspects of Statistics. Please explain any mathematical/ statistical signs or symbols used in the calculation and their relevance.
Cheers,
Sammy
How is the Binomial Standard Deviation calculated and what does it actually mean? What does it tell us?
I've used an example of coin tossing to hopefully simplify the overall explanation in the hope that I may grasp the concept and relate it to the UK 5/34 Thunderball Lotto.
Scenario:
100 coin tosses
Expected successes = 50
Probability p=0.5
What is the Binomial Standard Deviation for the above scenario?
I Do not know how the Binomial Standard Deviation is calculated: can you provide a step-by-step guide as to how this value is
calculated?
I am new to Probability and to the many other aspects of Statistics. Please explain any mathematical/ statistical signs or symbols used in the calculation and their relevance.
Cheers,
Sammy