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BETADIST

The BETADIST formula returns the cumulative beta distribution function. It is commonly used in statistical analysis to model events that result in outcomes between two bounds. The distribution is defined by the beta function, which is a continuous probability distribution with support from 0 to 1. The function can be used to determine the probability of a random variable falling between two values.

Usage

Use the BETADIST formula with the syntax shown below, it has 3 required parameters and 2 optional parameters:

=BETADIST(value, alpha, beta, lower_bound, upper_bound)
Parameters:
  1. value (required):
    The input value for which you want to compute the distribution.
  2. alpha (required):
    The alpha parameter of the beta distribution, which determines the shape of the distribution.
  3. beta (required):
    The beta parameter of the beta distribution, which determines the shape of the distribution.
  4. lower_bound (optional):
    The lower bound of the distribution. If omitted, it is assumed to be 0.
  5. upper_bound (optional):
    The upper bound of the distribution. If omitted, it is assumed to be 1.

Examples

Here are a few example use cases that explain how to use the BETADIST formula in Google Sheets.

Probability of a stock closing at a certain price

Suppose you want to determine the probability of a stock closing between $50 and $60. You can use BETADIST with alpha and beta parameters to model the distribution of the stock price. Then, you can use the lower and upper bounds to determine the probability of the stock closing within the desired range.

Modeling product sales

Suppose you want to model the sales of a new product. You can use BETADIST with alpha and beta parameters to model the distribution of the sales. Then, you can use the lower and upper bounds to determine the probability of selling a certain number of units within a given time period.

Analyzing test scores

Suppose you want to analyze the performance of students on a test. You can use BETADIST with alpha and beta parameters to model the distribution of the test scores. Then, you can use the lower and upper bounds to determine the probability of a student scoring within a certain range.

Common Mistakes

BETADIST not working? Here are some common mistakes people make when using the BETADIST Google Sheets Formula:

Missing arguments

One or more of the required arguments are missing. The BETADIST function requires five arguments: value, alpha, beta, lower_bound, and upper_bound.

Incorrect argument type

One or more of the arguments is of the wrong type. The value, alpha, beta, lower_bound, and upper_bound arguments must all be numeric values.

Incorrect order of arguments

The BETADIST function requires the arguments to be in a specific order: value, alpha, beta, lower_bound, and upper_bound. Make sure the arguments are in the correct order.

Invalid range

The lower_bound and upper_bound arguments must be between 0 and 1. If they are outside this range, the BETADIST function will return an error.

Incorrect values for alpha or beta

The alpha and beta arguments must both be positive numbers. If either argument is negative or zero, the BETADIST function will return an error.

Related Formulas

The following functions are similar to BETADIST or are often used with it in a formula:

  • BINOMDIST

    The BINOMDIST function calculates the probability of a certain number of successes in a fixed number of trials given a constant probability of success for each trial. This function is commonly used in statistical analysis and hypothesis testing.

  • NORMDIST

    The NORMDIST function in Google Sheets calculates the normal distribution for a specified value, mean, and standard deviation. It returns the probability of a value occurring within a specified range of a normal distribution. It is commonly used in statistics, finance, and science to analyze data and make predictions.

Learn More

You can learn more about the BETADIST Google Sheets function on Google Support.