Definitions for "Exponential distribution"
A lifetime statistical distribution that assumes a constant failure rate for the units being modeled.
continuous distribution which has one parameter. It is the distribution of the time between events in a Poisson process. When used to describe lifetimes, it has the ' memoryless' property.
Probably the most widely known and used distribution in reliability evaluation of systems. The most important factor for it to be applicable is that the hazard rate should be constant. Exponential distribution is frequently used for the analysis of time-dependent data when the rate at which events occur does not vary.