How to use the BETA.INV function
What is the BETA.INV function?
The BETA.INV function calculates the inverse of the cumulative beta distribution. This function has replaced the BETAINV function and was introduced in Excel 2010.
The beta distribution can help estimate how long a project might take by using the expected finish time and how variable the timeline could be. It gives the chance the project will be done at different dates based on the variability.
What is the inverse of the cumulative beta distribution?
The inverse of the cumulative beta distribution is a function that returns the value of x for a given probability p and parameters α and β of the beta distribution.
What is a cumulative beta probability distribution?
The cumulative beta distribution function gives the probability that a beta-distributed random variable with parameters α and β will be less than or equal to a given value x, providing the accumulated area under the probability density curve from 0 to x.
What is a beta probability density distribution?
A beta probability density distribution is a function whose shape over [0,1] depends on parameters α and β that gives the relative likelihood of a beta-distributed random variable occurring at different points, whose total area under the curve integrates to 1.
What are continuous values?
Continuous values are numbers that can take on any quantity within a range and can have infinitely many possibilities, unlike discrete values which have distinct separated values; continuous values can use intervals and ranges to describe events rather than fixed outcomes.
What are discrete probabilities?
Discrete probabilities are individual separated probabilities assigned to each of a countable number of possible outcomes that sum to 1, like rolling a die where each number has its own exact probability, as opposed to continuous distributions.
What are binomial success probabilities?
Binomial success probabilities describe the chance of a certain number of “successes” occurring in a fixed number of independent binary trial events modeled by the binomial distribution, like the probability of getting 3 heads in 10 coin flips.
What is Bayesian statistics?
Bayesian statistics is an approach to statistics using Bayes' theorem where prior beliefs about probabilities are updated as new evidence is acquired to determine conditional probabilities and update understanding of likelihood.
BETA.INV function Syntax
BETA.INV(probability,alpha,beta,[A],[B])
BETA.INV function Arguments
| probability | Required. |
| alpha | Required. A distribution parameter. |
| beta | Required. A distribution parameter. |
| [A] | Optional. Lower bound, default value 0 (zero). |
| [B] | Optional. Upper bound, default value 1. |
BETA.INV function example
Formula in cell C9:
BETA.INV function not working
The BETAINV function returns
- #VALUE! error value if any argument is non-numeric.
- #NUM! error value if:
- alpha <= 0 (zero)
- beta <= 0 (zero)
- probability <= 0 (zero)
- probability > 1
- A = B
Useful resources
Functions in 'Statistical' category
The BETA.INV function function is one of many functions in the 'Statistical' category.
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