Pretty confused by this sentence. The mean of a bunch of 0s and 1s cannot follow a beta distribution. The support set is not continuous. I think the author is making Clopper-Pearson intervals, but dropping some terms.
Pretty confused by this sentence. The mean of a bunch of 0s and 1s cannot follow a beta distribution. The support set is not continuous. I think the author is making Clopper-Pearson intervals, but dropping some terms.
This confused me as well, since I've always used the normal central-limit-based confidence interval for binary outcomes.
[1] https://en.wikipedia.org/wiki/Binomial_proportion_confidence...
(I am no expert in the analytic underpinnings of the beta distribution or precisely how it is the conjugate prior to the binomial -- or, rigorously speaking, what conjugate prior means -- but the formula here lines up with his formula :P )
>The beta dist is conjugate to the binomial, it is a natural prior for the proportion parameter.
I don't think the author is doing Bayesian inference.