Beta

Continuous distribution along a bounded interval.

Parameters

Alpha: Alpha parameter of the distribution.

Beta: Beta parameter of the distribution.

Minimum: Minimum value of the distribution.

Maximum: Maximum value of the distribution.

Applications

Applied in modeling bounded rates such as occupancy, utilisation, recovery rates and probabilities of success, between a set minimum and maximum.

To apply Monte Carlo simulations to the inputs/outputs of your model, see the Scenarios - Monte Carlo module.

Beta

Outputs

Plot: Histogram of the distribution with selected Confidence Interval.

Data: Confidence Intervals, Summary Statistics and Percentiles. See a sample Monte Carlo output.

View demo for Normal distribution

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