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The Beta distribution (student stuff)

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The Beta distribution (student stuff) .[embedded content] Added: And here’s a little Python code yours truly has put together so you can play around and plot Beta distributions: import numpy as np import matplotlib.pyplot as plt from scipy.stats import beta # Given data total_flips = 100 observed_heads = 60 observed_tails = 40 # Adjusted to match 100 flips # Calculating the probability of heads and tails prob_heads = observed_heads / total_flips prob_tails = observed_tails / total_flips # Simulating 100 coin flips flips = np.random.choice(['H', 'T'], size=total_flips, p=[prob_heads, prob_tails]) # Counting the number of heads and tails count_heads = np.sum(flips == 'H') count_tails = np.sum(flips == 'T') # Parameters for the Beta distribution

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The Beta distribution (student stuff)

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Added: And here’s a little Python code yours truly has put together so you can play around and plot Beta distributions:

Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

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