Exploring Beta-Like Distributions

Abstract

The most well known probability distribution of probabilities is the Beta distribution. If we have observed $r$ `successes', each having a probability $\theta$, and $n-r$ `failures', each having a probability $1-\theta$. In this paper we will derive a whole family of Beta-like distributions, which take as their data not only the number of successes and failures, but also values on predictor variables and time to failure or time without failure.

References in corpus (1)

• Fact Sheet Research on Bayesian Decision Theory