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Gamma Distribution
A gamma random variable with shape α and rate β has density:
$$f_X(x)=\frac{\beta^\alpha}{\Gamma(\alpha)}x^{\alpha-1}e^{-\beta x},\qquad x>0$$
Usage
- Used to model waiting times and positive continuous quantities.
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Gamma Distribution
A gamma random variable with shape α and rate β has density:
$$f_X(x)=\frac{\beta^\alpha}{\Gamma(\alpha)}x^{\alpha-1}e^{-\beta x},\qquad x>0$$
Usage
- Used to model waiting times and positive continuous quantities.
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