Description

Function to calculate the alpha and beta parameters of the beta distribution based on the method of moments using the mean μ and standard deviation σ of the random variable of interest.

Usage

Arguments

Value

a list containing the following:

alpha The method-of-moments estimate for the alpha parameter of the beta distribution

beta The method-of-moments estimate for the beta parameter of the beta distribution

Details

Based on methods of moments. If μ is the mean and σ is the standard deviation of the random variable, then

α = (\frac{1-μ}{σ^2} - \frac{1}{μ}) μ^2

and

β = α (\frac{1}{μ} -1)