Applications of Beta Distribution

Beta Distribution is used for many purposes:
Beta distribution is used in characterizing the distribution of kth order Satistic of the Continuous Uniform Distribution.
Rule of Succession is another vital application of Beta Distribution. By this rule the Posterior Distribution of p, the success probability is characterized as Beta.
It also has immense importance in Bayesian Inference with respect to the fact that it provides the family of conjugate prior Probability Distributions namely Binomial (as well as Bernouli ) and Geometric.
In subjective logic, i.e. in testing whether a proposition about the real world is true or false, Beta distribution provides the posteriori probability estimates of binary events.
Task cost and Schedule modeling are done with the help of Beta Distribution