Alpha = {[(mean x mean) - (mean x mean x mean)] / variance} - mean Beta = {[(mean) - (2 x mean x mean) + (mean x mean x mean)] / variance} - (1 - mean) Incidentally, the Beta parameter calculation can be simplified if the Alpha parameter is calculated first as :- Beta = Alpha x [(1/mean) - 1]
“I won’t take you through the algebra” THANK YOU, the reason most tutorials videos are upwards of 10 minutes is because they want to solve absolutely everything, instead of just teaching you the principles.
Nice example. Would you have a link or video showing how to calculate the values of alpha and Beta? Thank you
Good video, using an real life example helped me to understand Beta dist. parameters
How to calculate IF you have the parameters?
Alpha = {[(mean x mean) - (mean x mean x mean)] / variance} - mean
Beta = {[(mean) - (2 x mean x mean) + (mean x mean x mean)] / variance} - (1 - mean)
Incidentally, the Beta parameter calculation can be simplified if the Alpha parameter is calculated first as :-
Beta = Alpha x [(1/mean) - 1]
nice bro
how can we interpret the value of alpha and beta ?
I have same question..
How to solve Beta Distribution (Density and Cumulative) Equations in Excel?
“I won’t take you through the algebra”
THANK YOU, the reason most tutorials videos are upwards of 10 minutes is because they want to solve absolutely everything, instead of just teaching you the principles.
ok fine! but you seem to assume much of the illustrations during your problem solving
People should learn baseball rules before. Or the coach might use a more clear example.