Binomial theorem for non integers ? O_o ??
The generalized binomial theorem is actually a special case of Taylor's theorem, which states that
$$f(x)=\sum_{k=0}^\infty\frac{f^{(k)}(a)}{k!}(x-a)^k$$
Where $f^{(k)}(a)$ is the $k$th derivative centered at $a$. In particular if we have $f(x)=x^t$, note that
$$f'(x)=tx^{t-1}\\f''(x)=t(t-1)x^{t-2}\\\vdots\\f^{(k)}(x)=t(t-1)(t-2)\dots(t-k+1)x^{t-k}$$
Let $x=a+b$ and we find that
$$f(x)=(a+b)^t=\sum_{k=0}^\infty\frac{t(t-1)\dots(t-k+1)}{k!}a^{t-k}b^k$$
which is the generalized binomial expansion theorem! Special case of $t=-1,-2$ are interesting, as it gives
$$(1-x)^{-1}=1+x+x^2+x^3+\dots\\(1-x)^{-2}=1+2x+3x^2+4x^3+\dots$$
Yes: $$ (a+b)^{\frac{1}{2}}=a^{\frac{1}{2}}\sum_{k=0}^{\infty}\binom{\frac{1}{2}}{k}\bigg(\frac{b}{a}\bigg)^k $$ EDIT: fractional binomial coefficients are calculated as the regulae ones. Just replace the fraction with, say, $\alpha$ and use the definition: $$ \binom{\alpha}{k}=\alpha \cdot (\alpha-1) \cdots (\alpha-k+1) \cdot \frac{1}{k!} $$ and then substitute the fraction. What do you get?
You can see the following link, that explanes what occurs when the exponent is a complex number: http://en.wikipedia.org/wiki/Binomial_series