Exponential Distribution

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August 31, 2024 4 min read Definitions

Exponential Distribution: Understanding Time Between Events

Statistics Mathematics Exponential Distribution Poisson Distribution Probability Modeling Waiting Times

An in-depth look at the exponential distribution, which is related to the Poisson distribution and is often used to model the time between events in various fields.

August 31, 2024 4 min read Definitions

Markov Chains: Modeling Stochastic Processes in Queuing Theory

Mathematics Statistics Information Technology Markov Chains Stochastic Processes Queuing Theory Probability Exponential Distribution

Markov Chains are essential models in Queuing Theory and various other fields, used for representing systems that undergo transitions from one state to another based on probabilistic rules.