What are the common misconceptions about binomial distribution?
Understanding the binomial distribution is a critical skill in statistics, but it's often misunderstood. Misconceptions can lead to incorrect conclusions, so it's vital to clear up any confusion. The binomial distribution applies to a sequence of experiments where each trial has two possible outcomes, commonly referred to as "success" and "failure". Each trial is independent, meaning the outcome of one trial doesn't influence another, and the probability of success remains constant throughout the experiments.