Hello,
The beta distribution has
mean = a/(a+b)
variance = ab/((a+b)^2 * (a+b+1))
where a and b are shape parameters
I want to solve for a and b in terms of the mean and variance.
For example, I want an answer that looks like this
a = var*mean^2
b = mean*var
except I made up these expressions and I want the real ones.
Thanks a lot for any help.
J
WolframAlpha was able to solve this system of equations.