Exponential distribution

In probability theory and statistics, the exponential distributions are a class of continuous probability distribution. They are often used to model the time between independent events that happen at a constant average rate.
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The exponential distribution function is defined as:

where
(lambda) is an exponential function parameter (an alternative parameterization is scale
parameter b=1/
is the base of the natural logarithm, sometimes called Euler's e (2.71...)
Exponential Distribution (animation)
The graphic above shows the shape of the Exponential distribution when lambda equals 1.

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