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  • Contest Winning Probability Example

    Let’s say you have entered to win a contest which has 5 possible ways to win, and there are 100 different people who have entered the contest. What are your chances of winning? 5/100, right? Well, let’s take a look and see. First, let’s lay the ground rules for the contest. Each person can only…

  • Chain Rule: An In-Depth Analysis

    Chain Rule: An In-Depth Analysis

    The Chain Rule is one of the 4 or 5 main derivative rules that allow you to break down a function into smaller functions in order to find that function’s derivative. As with the other 4 or 5 main derivative rules, the Chain Rule is only applicable under certain conditions. Unlike the other derivative rules,…

  • Everything You’d Ever Want to Know About the Binomial Distribution

    What is the Binomial Distribution? The Binomial Probability Distribution is a type of probability distribution that can be described by a probability mass function. Remember that a probability mass function describes the probability of discrete random variables. Therefore, a variable that can be described by the Binomial Probability Distribution is a discrete random variable. This…