Excel Statistical Analysis - Binomial Probability Distributions - BINOM.DIST.RANGE Function & Chart

Overview

Dive into a comprehensive 32-minute video tutorial on binomial probability distributions in Excel. Master the BINOM.DIST.RANGE function and chart creation while exploring the mathematical foundations of binomial experiments. Learn to calculate probabilities using sample point, math formula, and Excel function methods. Apply your knowledge to real-world scenarios, including insurance sales, flight delays, traffic patterns, and student withdrawals. Discover how to visualize probability distributions using Excel charts and understand the impact of changing variables on distribution shapes. Gain practical skills in statistical analysis through hands-on examples and clear explanations of Excel formulas for mean and standard deviation calculations.

Syllabus

) Introduction.
) First look at binomial probability math formula..
) Requirements for a Binomial Experiment..
) 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..
) BINOM.DIST and ) BINOM.DIST.RANGE Excel Built-in Functions..
) Meand and Standard Deviation formulas for a Binomial Experiment..
) Example with Excel formulas to calculate a Binomial Probability with 1) Sample Point Method, 2) Math Formula Method, 3) BINOM.DIST.RANGE function method..
) How to use BINOM.DIST.RANGE function for a single X Probability..
) Experiment 1: Sell Insurance Policies in four tries. Full example with requirements, formulas and Excel Chart..
) SEQUENCE function and BINOM.DIST.RANGE function to spill the entire Binomial Probability Distribution for a Binomial Experiment..
) Plot Binomial Probability Distribution in an Excel Column Chart..
) Excel formulas for Mean and Standard Deviation. Four formulas..
) Calculating various probabilities with the BINOM.DIST.RANGE function..
) Experiment 2: Flight from Oakland to Seattle, where probability of the flight being late = 10%..
) Experiment 3: Traffic Across Bridge in next 10 workdays, where probability of the getting stuck in traffic = 15%..
) Experiment 4: Students withdrawing from Accounting 202 Class with 35 students enrolled, where the probability of withdrawing is 16%..
) Look at How Probability Distribution changes as the Number of Trials Increases and the Probability of Success approaches 0.5.
) Summary of video.
) Closing and Video Links.