Probability Distributions Part 10 : Beta Distribution

Описание: We discuss Beta distribution in this video with real life examples. We present with examples the concept of probability of probability in Beta distribution. We intuitively derive the probability density function of Beta distribution from binomial distribution. We show how the mode and width of Beta distribution changes with alpha and beta; and how alpha and beta are related to successes and failures during binary trials. Finally, we derive expected value and variance of gamma distribution, and show how they become similar to standard probability and standard error calculation when sample size is large.



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Part 6 link :    • Probability Distributions Part 6 : Binomia...  
Part 11 link :    • Probability Distributions Part 11 :  Diric...  


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