The binomial variance calculator computes variance for the binomial distribution based on the probability of success and trials.
The variance for the binomial distribution is calculated using the following formula:
σ2 = n × p × (1−p)
Where,
n = Number of Trials in the Experiment,
p = Probability of Success.
Let's take an example.
Suppose, the probability of success is 0.34 and the number of trials is 23. Calculate the binomial variance for the given values.
Here,
p = 0.34,
n = 23.
Now put values in the formula.
σ2 = 23 × 0.34 × (1 - 0.34)
σ2 = 7.82 × 0.66
σ2 = 5.161