Template:ExponentialDistribution

The Exponential Distribution

The exponential distribution is commonly used for components or systems exhibiting a constant failure rate. It is defined in its most general case by:

f(t) = λe ^{− λ(t − γ)}

with two parameters, namely λ and γ (this form is also known as the two-parameter exponential). If the location parameter, γ, is assumed to be zero, then the distribution becomes the one-parameter exponential or,

f(t) = λe ^{− λt}

The exponential distribution and its characteristics are presented in detail in the chapter The Exponential Distribution.