Session 9_Exponential Dist.pptx

Session 9_Exponential Dist.pptx - EXPONENTIAL DISTRIBUTION...

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EXPONENTIAL DISTRIBUTION
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Exponential Probability Distribution The exponential probability distribution is useful in describing the time it takes to complete a task. - Time between vehicle arrivals at a toll booth - Time required to complete a questionnaire - Distance between major defects in a highway The exponential random variables can be used to describe: In waiting line applications, the exponential distribution is often used for service times.
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Exponential Probability Distribution A property of the exponential distribution is that the mean and standard deviation are equal. The exponential distribution is skewed to the right. Its skewness measure is 2. The exponential distribution is the only continuous distribution that is "memoryless“. Let x is the time we need to wait before a certain event occurs. The above property says that the probability that the event happens during a time interval of length (y) is independent of how much time has already elapsed (x) without the event happening.
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