2022, Vol. 7, Issue 6, Part B

The exponential distribution frequently addresses the elapsed time before a particular event. A good example of an exponential distribution is the starting time before an earthquake. Other examples include how long long-distance business calls last in minutes and how long an automobile battery lasts in months. The value of the change in your pocket or handbag can also be demonstrated to roughly follow an exponential distribution.

In opportunity concept and statistics, the exponential distribution is a non-stop chance distribution that often worries the quantity of time till some specific occasion takes place. It's miles a system in which occasions show up continuously and independently at a consistent common price. The exponential distribution has the key belongings of being memoryless. The exponential random variable can be both more small values or fewer larger variables. For example, the quantity of cash spent by the customer on one trip to the supermarket follows an exponential distribution.