Exponential Probability Distribution
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Description
A positively-skewed continuous probability distribution that is fully described by a single rate parameter (lambda). Its likelihood is lambda at the starting value 0 and declines steadily while extending indefinitely to the right or positive direction. Both the mean and the standard deviation are the reciprocal of the rate parameter lambda.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Exponential probability distribution
Learning Material
Covered in Topic(s)
| Random Variables and Probability Distributions (Discrete and Continuous) |