The beta distribution is used to model proportion data, as its support is limited to the range between 0 and 1. Unlike in classification, where in the binary case, the actual labels only take on the values of 0 or 1, beta regression can be used on continuous data that falls within the interval [0, 1]. It is often useful in modeling rates, such as a win or hit ratio.
What is Beta regression?
The beta distribution is used to model proportion data, as its support is limited to the range between 0 and 1. Unlike in classification, where in the binary case, the actual labels only take on the values of 0 or 1, beta regression can be used on continuous data that falls within the interval [0, 1]. It is often useful in modeling rates, such as a win or hit ratio.
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