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Exponential Distribution

The exponential distribution is a continuous probability distribution. It is represented by:

The exponential distribution is closely related to the Poisson distribution, and is also used for reliability engineering. It models situations where the failure rate is constant. This occurs in the 'useful life' phase, when the item concerned will operate until it is affected by some external factor.

An example would be tire punctures. Most punctures are caused by objects on the road and the likelihood of a puncture is constant as long as the tread is not badly worn, at which time the tire is hopefully discarded.

 MiC Quality offers online courses, including two courses in Statistics, the Primer in Statistics and the Advanced Statistics Course. Try out our courses by taking the first module of the Primer in Statistics free of charge.
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