In chapter 2 of CT4 we come across the fact that the Exponential Distribution has the Memoryless Property (i.e. I assume this means that it satisfies the Markov Property). Am I right? Also, are there any other distributions that we should know have the Memoryless Property? Thank you
The geometric distribution has the memoryless property, I think. But we don't really use that in CT4. The memoryless property is not the same as the Markov property. The memoryless property is introduced in CT3. It tells us that if X is an exponential random variable, then: P(X > x + y | X > x) = P(X > y)
