Question

Among the explanations below, which one is not a reason to favor the use of a beta distribution to
capture cross-customer differences in our probability model of customer behavior?
It easily lends itself to make optimal decisions about marketing spending
Its parameters can easily be compared across datasets to draw insights about different groups of
customers
it is easy to implement in standard software leg. Microsoft Excel)
It is very flexible, .e. it can take on many different shapes.​

Answer 1

Answer:

The correct answer is "it is easy to implement in standard software leg. Microsoft Excel)"

Explanation:

It is easy to implement in standard software leg. Microsoft Excel) is not a reason to favor the use of a beta distribution to  capture cross-customer differences in our probability model of customer behavior.

The beta distribution is a continuous probability distribution which is usually put to use when a portion or probability is to be represented. For example it can be used to find out the most preferred candidate and his vote share among others.  

Answer 2

The answer choice which is not a reason to favor the use of a beta distribution is option B.

What is Beta Distribution?

This refers to the continuous probability distribution which is defined by the interval [0, 1].

Hence, we can see that for all the advantages of making use of beta distribution, the reason which is not an advantage is that it easily lends itself to make optimal decisions about marketing spending.

Read more about probability model here

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