To calculate the variance of a binomial process (σ²):
\[ \sigma^2 = n \cdot p \cdot (1 - p) \]
Where:
A binomial process is a statistical experiment that has two possible outcomes: success or failure. Each trial in the process is independent, and the probability of success remains constant throughout the trials. The binomial process is characterized by the number of trials (\(n\)) and the probability of success (\(p\)). It is commonly used in scenarios such as quality control, clinical trials, and any situation where the outcome can be classified into two categories.
Let's assume the following values:
Using the formula:
\[ \sigma^2 = 100 \cdot 0.5 \cdot (1 - 0.5) = 100 \cdot 0.5 \cdot 0.5 = 25 \]
The variance of the binomial process is 25.
