For an experiment to be classified as a binomial distrbution four critiria have to be met:
An example of a binomial experiement is flipping a coin.
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First i will explain the binomial expansion
It is necessary to use a continuity correction when using a normal distribution to approximate a binomial distribution because the normal distribution contains real observations, while the binomial distribution contains integer observations.
Binomial distribution is the basis for the binomial test of statistical significance. It is frequently used to model the number of successes in a sequence of yes or no experiments.
Poisson and Binomial both the distribution are used for defining discrete events.You can tell that Poisson distribution is a subset of Binomial distribution. Binomial is the most preliminary distribution to encounter probability and statistical problems. On the other hand when any event occurs with a fixed time interval and having a fixed average rate then it is Poisson distribution.
The mean of a binomial probability distribution can be determined by multiplying the sample size times the probability of success.