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Random Variable
A variable, the value of which hinges on the happenings related to a chance occurrence.
Exponential Distribution
A probability distribution used to model the time between events in a Poisson process, characterized by its constant rate.
Parameter
A numerical characteristic of a population, such as its mean or standard deviation, that is usually unknown and estimated from sample data.
Exponential Density Function
A probability density function used to model the time between events in a process where events occur continuously and independently at a constant average rate.
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