Among the explanations below, which one is not a reason to favor the use of a beta distribution to

capture cross-customer differences in our probability model of customer behavior?

It easily lends itself to make optimal decisions about marketing spending

Its parameters can easily be compared across datasets to draw insights about different groups of

customers

it is easy to implement in standard software leg. Microsoft Excel)

It is very flexible,. e. it can take on many different shapes.

Question

Business

Kaylie

26 February, 15:05

Among the explanations below, which one is not a reason to favor the use of a beta distribution to

capture cross-customer differences in our probability model of customer behavior?

It easily lends itself to make optimal decisions about marketing spending

Its parameters can easily be compared across datasets to draw insights about different groups of

customers

it is easy to implement in standard software leg. Microsoft Excel)

It is very flexible,. e. it can take on many different shapes.

+1

Answers (1)

Know the Answer?

Dennis Simpson · Answer 1

The correct answer is "it is easy to implement in standard software leg. Microsoft Excel) "

Explanation:

It is easy to implement in standard software leg. Microsoft Excel) is not a reason to favor the use of a beta distribution to capture cross-customer differences in our probability model of customer behavior.

The beta distribution is a continuous probability distribution which is usually put to use when a portion or probability is to be represented. For example it can be used to find out the most preferred candidate and his vote share among others.