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Exponential Distribution
Exponential Distribution is a statistical distribution used to model the time between events in a Poisson process, describing phenomena such as the time until a radioactive particle decays.
Expected Value
The anticipated value for a given investment or decision in probabilistic terms, calculated as the weighted average of all possible values.
Continuous Probability Distributions
Mathematical functions that describe the likelihood of any value within a continuous range occurring in a random variable.
Normally Distributed
A type of continuous probability distribution characterized by a bell-shaped curve symmetric about the mean.
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