What is B (beta) for transistor?

[Acuben]

Homework Statement

On one of the homework problems on NPN type transistor, I am asked to find Beta. What does Beta mean? Is it amplification? Is there equation for it?

Homework Equations

I'm looking for an equation

The Attempt at a Solution

 

[Redbelly98]

Beta is the ratio of collector current / base current.

http://en.wikipedia.org/wiki/Bipolar_junction_transistor#Transistor_.27alpha.27_and_.27beta.27