Asked by Brandon Trejo on May 25, 2024
Verified
If the random variable X is exponentially distributed with parameter λ = 5,then the variance of X,σ2 = V(X)= 0.04.
Exponentially Distributed
Describes the time between events in a process in which events occur continuously and independently at a constant average rate.
Parameter λ
A symbol often used to denote a specific parameter in mathematical or statistical expressions, such as the rate parameter in an exponential distribution.
Variance
A measure of the dispersion or spread of a set of data points around their mean, indicating how much the data points differ from the mean.
- Gain an understanding of, and put into practice, the concepts relevant to the exponential distribution in situational applications.
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Learning Objectives
- Gain an understanding of, and put into practice, the concepts relevant to the exponential distribution in situational applications.
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