Exponential distribution
The exponential distribution with rate , written ,[1] is a probability distribution defined only on the positive real numbers. It is the continuous analogue of geometric distribution.[2] Exponential distribution is used in reliability applications,[3] and its main use is to assess the duration of random time intervals. Examples where it can be used include:
- Time length of a telephone call
- How long does it take to perform a service (for example, to fix something at a service point)
- Amount of time between two phone calls
- Half life of atoms (radioactive decay)
- Expected lifetime of electronic (or other) parts, if wearing is not considered (this is called Mean Time Between Failures, MTBF)
- Age of plants or animals
- Very simple model used by insurance companies