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
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?
1
It is very flexible, i.e., it can take on many different shapes
It is easy to implement in standard software (e.g., Microsoft Excel)
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
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