The binomial distribution models the number of successes in a fixed number of independent Bernoulli trials. It's characterized by two parameters: n (number of trials) and p (probability of success on ...

Imagine the cardpool of a ptw game looks like: One can flip a card. there is a probability (here say 0.02) to have a prize at the beginning. If one does not have the prize for 50 attempts in a row, ...