The Exponential Distribution is a continuous probability distribution often used to model the time until an event occurs, such as the time between arrivals of customers at a service point. It is characterized by its constant hazard rate, meaning that the likelihood of an event occurring in the next instant is always the same, regardless of how much time has already passed. One of the key properties of the Exponential Distribution is its memoryless nature, which implies that the future probability of an event does not depend on the past. This makes it particularly useful in fields like queueing theory and reliability engineering, where understanding the timing of events is crucial.