From the course: Learning Excel: Data Analysis

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Use the binomial distribution

Use the binomial distribution - Microsoft Excel Tutorial

From the course: Learning Excel: Data Analysis

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Use the binomial distribution

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- [Instructor] Another data distribution is called the binomial distribution, and that deals with trials where there are only two possible outcomes, true or false, a customer might either sign up for or not sign up for your company's mailing list, for example. In this movie, I will show you how to calculate the probabilities for outcomes described by the binomial distribution. So we will need our chance of success and the number of trials. That is the number of customers who appear, and we can use those calculations to graph the likelihood of a specific number of customers signing up. With that introduction, I'll switch over to Excel. My Excel sample file is 04_05_Binomial, and you can find it in the chapter four folder of the exercise files collection. In this workbook, I have a worksheet with a graph that will show the signer percentage based on calculations we make in the table on the left. We have the two pieces of information we need in column B, so in B1 which is already…

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