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BETA.INV

The BETA.INV function in Google Sheets returns the value of the inverse beta distribution function for a given probability. It is commonly used in statistical analysis and modeling.

Function Syntax and Parameters

Syntax: BETA.INV(probability, alpha, beta, lower_bound, upper_bound)

Parameters:

  • probability: The probability for which you want to find the inverse beta distribution.
  • alpha: The alpha parameter of the beta distribution.
  • beta: The beta parameter of the beta distribution.
  • lower_bound: [Optional] The lower bound on the possible values of the beta distribution.
  • upper_bound: [Optional] The upper bound on the possible values of the beta distribution.

Step-by-Step Tutorial

  1. Using BETA.INV with known parameters:

    • Example: =BETA.INV(0.2, 2, 3)
    • Result: Returns the value of the inverse beta distribution for a probability of 0.2 with alpha = 2 and beta = 3.

  2. Using BETA.INV with specified lower and upper bounds:

    • Example: =BETA.INV(0.5, 2, 3, 0, 10)
    • Result: Returns the value of the inverse beta distribution for a probability of 0.5 with alpha = 2, beta = 3, lower bound = 0, and upper bound = 10.

Use Cases and Scenarios

  1. Risk Analysis: Determine the value at a given probability for a risk model with a beta distribution.
  2. Manufacturing Quality Control: Calculate the threshold value for a specific quality parameter based on the desired probability.
  3. Financial Modeling: Evaluate the potential returns or risks associated with different investment scenarios.

Related Functions

  • BETA.DIST: Calculates the probability density function or the cumulative distribution function for a beta distribution.

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