The Binomial Distribution is a statistical model that describes the number of successes in a fixed number of independent trials, each with the same probability of success. For example, if you flip a coin 10 times, the distribution can help you find the probability of getting a certain number of heads. It’s useful in scenarios where there are only two possible outcomes, like success or failure. To use the Binomial Distribution, you need three key pieces of information: the number of trials, the probability of success on each trial, and the number of successes you want to calculate. This distribution is widely applied in fields like finance, healthcare, and quality control to make informed decisions based on probabilities.