Experimentation, Bayesian Statistics, Engineering, Data Science, Ab Testing.
distribution. Suppose a variant was exposed to n users, and c were observed to convert(generated non-zero revenue). Suppose the observed mean revenue per converted user is s It can be shown that posterior distributions are given by: θ ∼ Beta(α₁ + c, β₁ + n − c) (source) 𝜆 ∼ 𝐺𝑎𝑚𝑚𝑎(α₂ + c, β₂ + cs)