151. Bernoulli

151.1. Bernoulli Trial (Binomial trial)

A Bernoulli trial is a random experiment with exactly two possible outcomes: “success” and “failure,” where the probability of success () remains constant across trials.

Example
  • Flipping a fair coin where “heads” is considered a success () and “tails” a failure ().

  • Rolling a die and checking if the outcome is a 6 (success) or not (failure). If the die is fair, the probability of success is and the probability of failure is .

  • Checking whether a shipment arrives on time (success) or is delayed (failure). If historical data shows that a shipment has a 90% chance of arriving on time, the probability of success () is 0.9, and the probability of failure () is 0.1.

151.1.1. Odds

Odds for ()

Odds against ()