Microsoft Excel Data Analysis and Business Modeling (Office 2021 and Microsoft 365), 7th Edition

Chapter 60

The binomial, hypergeometric, and negative binomial random variables

Questions answered in this chapter:

• What is a binomial random variable?

• How do I use the BINOM.DIST and BINOM.DIST.RANGE functions to compute binomial probabilities?

• If equal numbers of people prefer Coke over Pepsi and Pepsi over Coke, and I ask 100 people whether they prefer either Coke or Pepsi, what is the probability that exactly 60 people prefer Coke over Pepsi and the probability that between 40 and 60 people prefer Coke over Pepsi?

• Of all the elevator rails my company produces, 3 percent are considered defective. We are about to ship a batch of 10,000 elevator rails to a customer. To determine whether the batch is acceptable, the customer will randomly choose ...