Gamma Distribution
In probability theory and statistics, the gamma distribution is a two-parameter family of continuous probability distributions. It is a generalization of the exponential distribution, with an additional shape parameter that allows for more flexibility in modeling. The gamma distribution is often used in the field of data science to model waiting times, such as the time between arrivals in a queue or the time until a failure in a system. It is also commonly used in finance to model the distribution of asset returns. The gamma distribution has a number of useful properties, including the fact that it is closed under convolution, which makes it useful for modeling sums of random variables. Additionally, it is a conjugate prior for the precision parameter of the normal distribution, which makes it useful in Bayesian statistics.
Your Previous Searches
Random Picks
- Quantitative Measure: A quantitative measure is a numerical value that represents a specific attribute or characteristic of a dataset. In data science, quantitative measures are used to analyze and interpret data, and to make informed decisions based on the resu ... Read More >>
- Smartphones: Smartphones are mobile devices that are capable of running complex applications and connecting to the internet. They are equipped with various sensors such as GPS, accelerometer, and gyroscope, which enable them to collect data about their ... Read More >>
- Hypothesis Test: Hypothesis testing is a statistical method that is used to determine whether there is enough evidence in a sample of data to infer that a certain condition is true for the entire population. The process involves formulating two hypotheses: ... Read More >>
Top News
New college grad? Here's what experts say you should know about AI....
We asked three experts what fresh college graduates can do to prepare as artificial intelligence changes how Americans work. Here's what they said....
News Source: CBS News on 2025-06-06
Senate Republicans revise ban on state AI regulations in bid to preserve controv...
Senate Republicans have made changes to their party’s sweeping tax bill in hopes of preserving a new policy that would prevent states from regulating artificial intelligence...
News Source: ABC News on 2025-06-06
Use of Community Notes on Elon Musk's X has plummeted in 2025...
Half as many crowdsourced Community Notes were created in May than were created in January....
News Source: NBC News on 2025-06-06
Film Festival showcases what artificial intelligence can do on the big screen...
Artificial Intelligence’s use in filmmaking is growing...
News Source: ABC News on 2025-06-06
Can AI be held accountable? AI ethicist on tech giants and the AI boom...
What is the future of AI and efforts to regulate its harms? Marc Lamont Hill speaks to AI ethicist Rumman Chowdhury....
News Source: Al Jazeera English on 2025-06-06