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Exponential & Weibull Distribution: Illustration with practical examples

Hello Friends,

In this video, we are going to study 2 data distributions for continuous data ‘Exponential Distribution’ & ‘Weibull Distribution’ with practical examples.


Exponential Distribution:

This distribution is most often used to model the behavior of units that have a constant failure rate. The exponential distribution has a wide range of applications in analyzing the reliability and availability of electronic systems, queuing theory, and Markov chains.

I have explained this distribution in further detailed regarding ‘Measures of Central Tendency and Dispersion’, ‘Formulas for calculating probability density function with practical example’ as well as ‘excel formula’ to evaluate it.


Weibull Distribution:

This distribution is commonly used to model time-to-failure data. For example, a manufacturer is interested in calculating the probability that a part fails after one, two, or more years. It has wide application in engineering, medical research, finance, and climatology.

I have explained this distribution in further detailed regarding ‘Measures of Central Tendency and Dispersion’, ‘Formulas for calculating probability density function with practical example’ as well as ‘excel formula’ to evaluate it.

One of the main advantages of Weibull distribution is that it can take on the characteristics of other types of distribution making it extremely flexible in fitting different kinds of data. I have explained it with examples.


I am sure, you will like it.


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