Binomial and Poisson Distributions in Real Life

Examples of the binomial and poisson distributions are all around us.

- Identify a real-life example or application of either the binomial or poisson distribution.
- Specify how the conditions for that distribution are met.
- Suggest reasonable values for n and p (binomial) or mu (poisson) for your example.
- Calculate the mean and standard deviation of the distribution for your example.

Solution Summary

We give a real-life example (radioactive decay) of a Poisson distribution and show how to calculate the mean and standard deviation of this distribution.