Probability and Statistics

For a continuous random variable following an exponential distribution with rate parameter $\lambda > 0$, the mean and variance are respectively:

Options:

• (A) $1/\lambda$ and $1/\lambda^2$
• (B) $\lambda$ and $\lambda^2$
• (C) $1/\lambda$ and $1/\lambda$
• (D) $\lambda$ and $1/\lambda$