Channel: ExcelIsFun

Category: Education

Tags: business statistical analysisbinomial probability math formuladata analysisflip coinexcel binomial experimentesa 27binom.dist.range functionbinomial experimenthighline collegebinomial probability distributionexcel statisticsmike girvinmicrosoft 365 excelprobability of success0.5busn 210number of trials increasesmike excelisfun girvinstatistical analysischapter 5binomial probabilitiesexcelisfunexcel statistical analysis

Description: Download Excel File: excelisfun.net/files/Ch05-ESA.xlsm PDF notes file: excelisfun.net/files/Ch05-ESA.pdf Learn about: Topics: 1. (00:00) Introduction 2. (00:29) First look at binomial probability math formula. 3. (01:12) Requirements for a Binomial Experiment. 4. (04:46) Why the Binomial Probability Math Formula works. Look at Samples Points and AND Logical Test and the OR Logical Test. Learn about the reason the math formula is valid. 5. (10:06) BINOM.DIST and ) BINOM.DIST.RANGE Excel Built-in Functions. 6. (11:08) Meand and Standard Deviation formulas for a Binomial Experiment. 7. (11:38) Example with Excel formulas to calculate a Binomial Probability with 1) Sample Point Method, 2) Math Formula Method, 3) BINOM.DIST.RANGE function method. 8. (13:32) How to use BINOM.DIST.RANGE function for a single X Probability. 9. (14:14) Experiment 1: Sell Insurance Policies in four tries. Full example with requirements, formulas and Excel Chart. 10. (14:47) SEQUENCE function and BINOM.DIST.RANGE function to spill the entire Binomial Probability Distribution for a Binomial Experiment. 11. (15:54) Plot Binomial Probability Distribution in an Excel Column Chart. 12. (17:25) Excel formulas for Mean and Standard Deviation. Four formulas. 13. (19:02) Calculating various probabilities with the BINOM.DIST.RANGE function. 14. (23:22) Experiment 2: Flight from Oakland to Seattle, where probability of the flight being late = 10%. 15. (26:58) Experiment 3: Traffic Across Bridge in next 10 workdays, where probability of the getting stuck in traffic = 15%. 16. (28:30) Experiment 4: Students withdrawing from Accounting 202 Class with 35 students enrolled, where the probability of withdrawing is 16%. 17. (29:54) Look at How Probability Distribution changes as the Number of Trials Increases and the Probability of Success approaches 0.5 18. (31:08) Summary of video 19. (31:43) Closing and Video Links