The exponential distribution is a model for items with a constant failure rate (which very rarely occurs).
If the chance of failure is the same each hour (or cycle, etc.), including the first hour, 100th hour, and 1 millionth hour or use, then the exponential distribution is suitable.
Many practitioners assume the failure rate either is constant or changes so little as to be essential constant in order to make reliability calculations simpler. [Read more…]