Actually my analysis was spot on, it was not basically spot on.Originally Posted by jsp377
The binomial distribution is the distribution of n trials of a 2-valued event with probability p.
The result you have used is the normal approximation to the binomial distribution. The only reason to use the normal distribution for this is if it is inconvenient to use the binomial distribution (which it is not if Excel calculates it for you). The binomial distribution is exact.
As you say, it does not make much difference, but the binomial distribution is the better one to use here.




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