The binomial theorem describes the algebraic expansion of powers of a binomial, hence it is referred to as binomial expansion.

You don't, unless you work in engineering. The Wikipedia article on "binomial theorem" has a section on "Applications".

yes Isaac Newton created the binomial theorem

Binomial expansions and the binomial theorem,\.

The binomial theorem describes the algebraic expansion of powers of a binomial: that is, the expansion of an expression of the form (x + y)^n where x and y are variables and n is the power to which the binomial is raised. When first encountered, n is a positive integer, but the binomial theorem can be extended to cover values of n which are fractional or negative (or both).