What is the role of exponential distribution in a stochastic process
Answers
Answer:
In probability theory and statistics, the exponential distribution is the probability distribution of the time between events in a Poisson point process, i.e., a process in which events occur continuously and independently at a constant average rate. It is a particular case of the gamma distribution. It is the continuous analogue of the geometric distribution, and it has the key property of being memoryless. In addition to being used for the analysis of Poisson point processes it is found in various other contexts.
The exponential distribution is not the same as the class of exponential families of distributions, which is a large class of probability distributions that includes the exponential distribution as one of its members, but also includes the normal distribution, binomial distribution, gamma distribution, Poisson, and many others.
Step-by-step explanation:
Answer:
Just so, the Poisson distribution deals with the number of occurrences in a fixed period of time, and the exponential distribution deals with the time between occurrences of successive events as time flows by continuously.The exponential distribution (also called the negative exponential distribution) is a probability distribution that describes time between events in a Poisson process.