Bernoulli trialBernoulli trial
Origin of Bernoulli trialAfter Jakob Bernoulli.
bernoulli trial - Investment & Finance Definition
A random event that has three important characteristics. Its result must be a success or failure; the probability of a success must be the same for all trials, and the outcome of each trial must be independent of the other trial’s outcomes. A coin toss would meet the requirements of a Bernoulli trial.