02 - Beta Distribution

This video is the primer of section two of your Monte-Carlo-Simulation and Modelling trail. It introduces the beta distribution, a concept which is useful when modelling probabilities, rates or ratios. You will learn about the idea of the beta distribution, how its parameters can be specified and the functions available in MS Excel to implement it. After watching the video, you should be able to translate real world scenarios into beta models and perform associated calculations.

• 00:00 Intro
• 00:22 What is the beta distribution about?
• 04:52 Formula and parameters
• 07:30 MS Excel