The Binomial and Poisson Distributions

Learn about the Binomial and Poisson distributions in this informative video. Explore how to calculate probabilities for events like coin flips and customer arrivals. Discover the connection between these two important probability distributions, starting with the simpler Binomial distribution and progressing to the more complex Poisson distribution. Gain practical knowledge on applying these concepts to real-world scenarios, such as predicting store traffic. Delve into the mathematical foundations, including the use of intervals and limits, to derive the Poisson distribution from the Binomial distribution. Perfect for students and professionals looking to enhance their understanding of probability theory and its applications.

Intro
Binomial distribution
Probability of getting 2 heads
Probability of getting k heads in n tries
Probability that 5 people enter the store
Divide the hour into 20 intervals (of 3 minutes each)
Divide the hour into 60 minutes
Divide the hour into ∞ intervals
The Poisson distribution