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===The Exponential Distribution===
#REDIRECT [[The Exponential Distribution]]
The exponential distribution is commonly used for components or systems exhibiting a constant failure rate and is defined in its most general case by:
<br>
::<math>f(t)=\lambda {e}^{-\lambda(t-\gamma )}</math>
 
(also known as the two-parameter exponential in this form) with two parameters, namely <math>\lambda </math>  and  <math>\gamma .</math>
If the location parameter, <math>\gamma </math>, is assumed to be zero, the distribution then becomes the one-parameter exponential or,
<br>
::<math>f(t)=\lambda {{e}^{-\lambda t}}</math>
 
The exponential distribution and its characteristics are presented in more detail in [[The Exponential Distribution | Chapter 7]].
 
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Latest revision as of 09:56, 9 August 2012