A systematic analysis of a continuous version of a binomial lattice, contai
ning a real parameter gamma and covering the Toda field equation as gamma -
-> infinity, is carried out in the framework of group theory. The symmetry
algebra of the equation is derived. Reductions by one-dimensional and two-d
imensional subalgebras of the symmetry algebra and their corresponding subg
roups, yield notable field equations in lower dimensions whose solutions al
low us to find exact solutions to the original equation. Some reduced equat
ions turn out to be related to potentials of physical interest, such as the
Fermi-Pasta-Ulam and the Killingbeck potentials, and others. An instantonl
ike approximate solution is also obtained which reproduces the Eguchi-Hanso
n instanton configuration for gamma --> infinity. Furthermore, the equation
under consideration is extended to n + 1 dimensions. A spherically symmetr
ic form of this equation, studied by means of the symmetry approach, provid
es conformally invariant classes of field equations comprising remarkable s
pecial cases. One of these (n = 4) enables us to establish a connection wit
h the Euclidean Yang-Mills equations, another appears in the context of Dif
ferential Geometry in relation to the so-called Yamabe problem. All the pro
perties of the reduced equations are shared by the spherically symmetric ge
neralized field equation.