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Variance
The average of the squared differences from the mean, providing a measure of how spread out numbers are.
Binomial Distribution
The binomial distribution is a probability distribution that summarizes the likelihood of obtaining a fixed number of successes in a fixed number of trials with a specific probability of success in each trial.
Expected Value
A statistical concept representing the average outcome of a random variable over a large number of experiments or trials.
Binomial Probability Distribution
A probability distribution that summarizes the likelihood that a value will take one of two independent values under a given set of parameters or conditions.
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