Beta distribution (Harmonic mean)

Description

In probability theory and statistics, the beta distribution is a family of continuous probability distributions defined on the interval [0, 1] parametrized by two positive shape parameters, denoted by α and β, that appear as exponents of the random variable and control the shape of the distribution. In mathematics, the harmonic mean (sometimes called the subcontrary mean) is one of several kinds of average. Typically, it is appropriate for situations when the average of rates is desired. The harmonic mean of a beta distribution with random variable X is depended on shape parameters α and β.