Modeling rare events refers to the statistical techniques used to analyze and predict occurrences that happen infrequently within a given timeframe or space. This is particularly important in various fields like telecommunications, insurance, and epidemiology, where understanding these rare occurrences can have significant implications for risk assessment and resource allocation. Two common probability distributions used for modeling rare events are the Poisson distribution and the geometric distribution, which provide frameworks for understanding the frequency and timing of such occurrences.
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