Stochastic Processes
The gamma distribution is a continuous probability distribution that is used to model the time until an event occurs, such as the time until the next arrival in a Poisson process. It is characterized by two parameters: the shape parameter (k) and the scale parameter (θ), which together define its shape and spread. This distribution is particularly useful for understanding waiting times and interarrival times in stochastic processes.
congrats on reading the definition of gamma distribution. now let's actually learn it.