November 2022
Beginner to intermediate
192 pages
5h 49m
English
Content preview from Bayesian Analysis with Excel and R
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3
Understanding the Beta Distribution
In This Chapter
Establishing the Beta Distribution in Excel
Comparing the Beta Distribution with the Binomial Distribution
The previous chapter discussed the binomial distribution and how to use Excel’s worksheet functions, as well as R’s family of binomial functions, to explore the inferences that you can make from those functions.
This chapter explores some of the reasons why you might decide to use a distribution other than the binomial distribution as your point of reference. That’s the beta distribution.
In a variety of ways, the beta distribution resembles the binomial. For example, both distributions lend themselves ...
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