mytest > help > Part 2. MM4XL Tools > 1. Strategic Tools > Risk Analyst > 4. Functions > 3. Distribution Functions > mmEXPON(Mean)

Risk Analyst

mmEXPON(Mean)

Example

=mmEXPON(1) can equal 1.660898089

Application

This function can model the amount of time between (or until) events, where the rate of occurrence is independent from previous events.

How to use

This function returns the amount of time between events. This helps, for instance, when we need to estimate how long it takes between client arrival and departure.

Say that we are modeling the client flow at a fast food restaurant and we need an estimate of the time between arrivals, which is useful information to determine how much production capacity is available at any time. Our records show that on average in a given day, we serve one client every 12 minutes. The formula below estimates the time in minutes between client arrivals:

=mmEXPON(12)

Copy the formula above in 100 cells. You will find that most simulated values will spread around the 12 minutes and only a small portion of the 100 runs will show very large values, meaning that a long amount of time elapses till the next client comes in.

Technical profile

Type Continuous distribution.
Syntax =mmEXPON(Mean)
Domain  Monte Carlo Simulation Software: Management Process Risk Analysis.
Mode 0
Parameters Mean = b > 0
Remarks It is characterized by a lack of memory, like mmGEO.
If Mean is nonnumeric mmEXPON returns the #VALUE! error value.
If Mean < 0 mmEXPON returns the #NUM! error value.
Relationships It is a special case of Gamma and Weibull variates.
It is related to the Rectangular, Erlang, Pareto and Extreme Value variates.
Graphs
mmEXPON(1) mmEXPON(100)
 Monte Carlo Simulation Software: Management Process Risk Analysis  Monte Carlo Simulation Software: Management Process Risk Analysis
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