Is the continuous counterpart to the geometric distribution
Describes the inter-arrival time durations between events in a homogeneous Poisson process
Is used to model the "useful-life" region of the bathtub curve
Implies that failures are due to random events or chance
Is a "memoryless" distribution
Is one of the most commonly used lifetime distributions in reliability analyses
Is the simplest distribution used in the analysis of reliability data
In real world scenarios, assuming exponentially distributed failure times is rarely valid
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