Exponential Distribution Calculator
Calculate probabilities and percentiles for the exponential distribution.
Frequently Asked Questions (FAQs):
- What is an exponential distribution, and why is it important?
- An exponential distribution models the time between events in a process that follows the memoryless property. It's vital in probability theory for scenarios involving decay, waiting times, and reliability analysis.
- What is the formula for calculating exponential distribution probabilities?
- The formula for calculating the probability of observing an event in an exponential distribution, given a rate parameter λ, is:
- Where x is the specific time interval and e is Euler's number.
- How do I interpret exponential distribution probabilities?
- Exponential distribution probabilities provide the likelihood of an event occurring within a specific time interval. It's often used to model time-to-failure in reliability analysis and the inter-arrival times in queuing systems.