Beta Distribution — Intuition, Examples, and Derivation

<p>The Beta distribution is&nbsp;<strong>a probability distribution&nbsp;<em>on probabilities</em></strong>.<br /> It is a versatile probability distribution that could be used to model probabilities in different scenarios. Examples include the Click-Through Rate (CTR) of an advertisement, the conversion rate of customers purchasing on your website, the likelihood of readers clapping for your blog, the probability of Trump winning a second term, the 5-year survival rate for women with breast cancer, and so on.</p> <p>Because the Beta distribution models a probability, its domain is bounded between&nbsp;<strong>0&nbsp;</strong>and&nbsp;<strong>1</strong>.</p> <p><a href="https://towardsdatascience.com/beta-distribution-intuition-examples-and-derivation-cf00f4db57af"><strong>Visit Now</strong></a></p>