Question
Give an example, of how either the Poisson or the Exponential distribution could be used to model something in real life ( only one example
Give an example, of how either the Poisson or the Exponential distribution could be used to model something in real life (only one example is necessary).
When forming your answer to this question you may give an example of a situation from your own field of interest for which a random variable. Discuss the importance (or lack thereof) of having a theoretical model for the situation. People can use models to predict business conditions, network traffic levels, sales, and number of customers per day, rainfall, temperature, crime rates, or other such things.
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