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 ...

Second, the binomial distribution assumes that we know the intrinsic probability of an event occurring, as we would with a dice roll or coin flip. But we never really know what a baseball player’s ...

In this article we review two historical approximations to the Poisson and binomial cumulative distribution functions (CDFs); that is, the Wilson—Hilferty and Camp—Paulson approximations. Both of ...

Quasi-Poisson and negative binomial regression models have equal numbers of parameters, and either could be used for overdispersed count data. While they often give similar results, there can be ...