👉 In statistics, a beta distribution is a continuous probability distribution that describes the posterior distribution of a parameter given an observed data set. The parameters β1 and β2 are called the shape parameters, while α is called the scale parameter.
The beta distribution is often used in statistical models to model the relationship between two random variables, such as the likelihood ratio test for comparing two samples from two populations, or the beta regression model for fitting a linear model to data. It has several theoretical properties and applications,
betas