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Exponential Distribution (Graphical)

Exponential Distribution:

The exponential distribution is a one-sided distribution completely specified by one parameter Math image ; the density of this distribution is

Math image

The mean of the exponential distribution is Math image .

The exponential distribution is a model for the length of intervals between two consecutive random events in time, or between a given point and the next nearest point. In this case Math image is the rate of events – that is, the average number of events per a unit interval. (For details on what “random events” means here see Poisson process.

An important property of the exponential distribution is

Math image

Because of this property, the exponential distribution is also referred to as a ´memory-less distribution´. One of the applications of the exponential distribution is in queuing theory.

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