Exponential Distribution Meaning Formula Calculation
What is Exponential Distribution? It is a continuous counterpart of a geometric distribution. It is a memoryless random distribution comprising many small values and less large values. It is different from the Poisson distribution — Poisson predicts the number of times an event transpires in a given period and not the time gap. Key Takeaways The exponential distribution is a probability distribution that anticipates the time interval between successive events. The events should occur continuously and should be independent of each other....