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Beta Distribution
A beta random variable with parameters α,β>0 has density:
$$f_X(x)=\frac{x^{\alpha-1}(1-x)^{\beta-1}}{B(\alpha,\beta)},\qquad0<x<1$$
Usage
- Used to model probabilities and proportions.
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Beta Distribution
A beta random variable with parameters α,β>0 has density:
$$f_X(x)=\frac{x^{\alpha-1}(1-x)^{\beta-1}}{B(\alpha,\beta)},\qquad0<x<1$$
Usage
- Used to model probabilities and proportions.
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