For Generate Random Sample, the Beta distribution can be defined by its Mean and Variance or by two shape parameters a and b. The mean is equal to a(a+b)−1 with variance ab(a+b+1)−1(a+b)−2;. By default, the two-parameter form is used, defined on the range (0,1). By setting the lower and upper bounds the four-parameter form can be used, defined on the specified range and the mean between them must be within the specified range.
Updated on January 30, 2023