By the time you are finished with this module, you should have a better understanding of:
- how events in time can be modeled using the Poisson and
Exponential distributions;
- the relationship between the Poisson (representing events in
time) and Exponential (representing time between events) random
variables for a given scenario; and
- the impact of different magnitudes of the parameter lambda on the
Poisson and Exponential models.