For a binomial distribution,outcomes of an experiment are classified into one of two mutually exclusive categories (a success or a failure).

Name: For a binomial distribution,outcomes of an experiment are classified into one of two mutually exclusive categories (a success or a failure).
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That is correct, for a binomial distribution, there are only two possible outcomes and they are mutually exclusive (meaning they cannot occur at the same time).

For a Binomial Distribution,outcomes of an Experiment Are Classified into One