The binomial distribution is a subtype of the multinomial distribution. In finance, the multinomial distribution can be used to estimate the probability of a set of occurrences and analyze the ...

The number of jackpot winners in a lottery is a textbook example of a binomial distribution, a formula from basic probability theory. If we repeat some probabilistic process some number of times ...

A binomial tree is a graphical representation of possible intrinsic values that an option may take at different nodes or time periods.

C. Radhakrishna Rao, A Natural Example of a Weighted Binomial Distribution, The American Statistician, Vol. 31, No. 1 (Feb., 1977), pp. 24-26 ...