Question

Draw an uncertain event that is characterized by an exponential distribution.

Answer 1

Exponential Distribution:

The exponential distribution is the probability distribution that describes the time between events in a Poisson point process, i.e., a process in which events occur continuously and independently at a constant average rate.

Example of Exponential Distribution:

You observe the number of calls that arrive each day over a period of a year, and note that the arrivals follow a Poisson distribution with an average of 3 per day.

Let T be the waiting time between calls.

Then T will follow an exponential distribution.