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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.
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How do you differentiate a Poisson distribution and a binomial one in a level qns?
The Poisson distribution is characterised by a rate (over time or space) of an event occurring. In a binomial distribution the probability is that of a single event (outcome) occurring in a repeated set of trials.
Should you use the Binomial Normal or Poisson distribution if in the past few years an average of 10 businesses closed and I want to find the probability of more than 10 businesses closing next year?
If this is the only information that you have then you must use the Poisson distribution.
Is the Poisson probability distribution discrete or continuous?
The Poisson distribution is discrete.
State a condition under which the binomial distribution can be approximated by poisson distribution?
Because "n" is very large and "p" is very small. where "n'' indicates the fixed number of item. And ''p'' indicates the fixed number of probability from trial to trial.
The binomial and Poisson distributions are examples of discrete probability distributions?
discrete & continuous
