The exponential distribution has an interesting memoryless property.
The probability distribution of the remaining time until the event occurs is always the same regardless of the time that passed.
There is no memory in the process. The history is not relevant. The time to next arrival is not influenced by when the last event or arrival occurred.
This property is unique to the exponential and the geometric distributions.
Learn about this in detail in lesson 44. I promise you will never forget it.
If you find this useful, please like, share and subscribe to my data analysis classroom.
You can also follow me on Twitter @realDevineni for updates on new lessons.