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What is binomial approximation?
In statistics you must have heard about a theory called the binomial theory which is a major part of the probability theorem. Based mostly on the distribution and study of population count as “k” and “n”, this theory is used mostly by the marketers. The market research defines binomial approximation as the calculation of population as per the theory of demographics.
There are various methods used to measure the theory of binomial distribution. Scientific methods are used since they give exact results as per positive or negative methods. If it is positive, then it is positive binomial distribution and if the result is negative, it is negative binomial distribution.
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Reference books and notes written by experts are provided to you so that you don’t find it tough. Practice the theory with lots of examples provided by our tutors and you will learn the topic.
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