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The beta distribution is a suitable model for the random behavior of percentages and proportions. In Bayesian inference, the beta distribution is the conjugate prior probability distribution for the Bernoulli, binomial, negative binomial, and geometric distributions.
The Beta distribution on [0,1], a family of two-parameter distributions with one mode, of which the uniform distribution is a special case, and which is useful in estimating success probabilities. The four-parameter Beta distribution, a straight-forward generalization of the Beta distribution to arbitrary bounded intervals [,].
The beta-binomial distribution can also be motivated via an urn model for positive integer values of α and β, known as the Pólya urn model.Specifically, imagine an urn containing α red balls and β black balls, where random draws are made.
The beta family includes the beta of the first and second kind [7] (B1 and B2, where the B2 is also referred to as the Beta prime), which correspond to c = 0 and c = 1, respectively. Setting =, = yields the standard two-parameter beta distribution.
Beta regression is a form of regression which is used when the response variable, , takes values within (,) and can be assumed to follow a beta distribution. [1] It is generalisable to variables which takes values in the arbitrary open interval ( a , b ) {\displaystyle (a,b)} through transformations. [ 1 ]
Thus the distribution is a compound probability distribution. This distribution has also been called both the inverse Markov-Pólya distribution and the generalized Waring distribution [1] or simply abbreviated as the BNB distribution. A shifted form of the distribution has been called the beta-Pascal distribution. [1]
It is a multivariate generalization of the beta distribution, [1] hence its alternative name of multivariate beta distribution (MBD). [2] Dirichlet distributions are commonly used as prior distributions in Bayesian statistics , and in fact, the Dirichlet distribution is the conjugate prior of the categorical distribution and multinomial ...
In Bayesian probability theory, if, given a likelihood function (), the posterior distribution is in the same probability distribution family as the prior probability distribution (), the prior and posterior are then called conjugate distributions with respect to that likelihood function and the prior is called a conjugate prior for the likelihood function ().