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Beta Distribution. Random Numbers Generator and Statistics Set

Microsoft Excel - From Beginner to Expert in 6 Hours/ EXCEL DASHBOARD REPORTS

 

Random Numbers Generator and Statistics Set (Set 2) provides 12 random numbers generators that allow you to generate histogram from the probability distribution given the parameters you have specified. You also have the option to output random numbers from the distribution on the spreadsheet.

Beta Distribution Back to: Random Numbers Generator and Statistics Set (Set 2)

The Beta distribution can be used in the absence of data. Possible applications are estimate the proportion of defective items in a shipment or time to complete a task. The Beta distribution has two shape parameters, a1 and a2. When the two parameters are equal, the distribution is symmetrical. For example, when both a1 and a2 are equal to one, the distribution becomes uniform. If a1 is less than a2, the distribution is skewed to the left. And if a1 is greater than a2, the distribution is skewed to the right.

Beta Distribution

Back to: Random Numbers Generator and Statistics Set (Set 2)

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