The Gamma Distribution is a continuous probability distribution commonly used in statistics and various fields such as finance and engineering. It is defined by two parameters: shape (k) and scale (θ). The distribution is particularly useful for modeling waiting times or the time until an event occurs, making it applicable in scenarios like queuing systems and reliability analysis. One of the key characteristics of the Gamma Distribution is its flexibility; it can take on different shapes depending on the values of its parameters. When the shape parameter is an integer, it can represent the sum of multiple exponential random variables, which is why it is often used in processes involving cumulative events.