+1 862 207 3288 Gamma Distribution is an important two-parameter distribution among the continuous family of Probability Distribution. It is used to model variables like waiting times. It is often called the continuous waiting Time Distribution.
There is a core relationship between the Exponential and Gamma distribution. This is so because Exponential Distribution is a particular case of a Gamma Distribution, on the other side sum of a finite number of independent Exponential variables can be characterized as Gamma. In a Poisson process the interarrival times between two successive events are usually modeled by Exponential distribution.
Their sums can be considered as Gamma Distribution. It helps us in calculating the probability that we have to wait for the rth happening of a particular event, where r > 1.
