It is based on the Poisson-Exponential-Geometric distributions. It is also very simple and deserves to be in the ranks of the other great distributions such as the Poisson Binomial Geometric and Exponential.
It should be of great interest to anyone using statistics.
| 50% sure | 90% sure | |
| Time until first event | x 1 | x 9 |
| Number of samples until sample desired | x 1 | x 9 |
A rep who got a giant contract after tg days could find out how much time he must wait to get another.Quality control could have an accurate tool to use in cases not dreamed of before.Stock brockers could more accurately determine the chances of the next 20% jump in stock prices.
The army could determine when the next big terrorist will be captured.
