Web Reference: In probability and statistics, memorylessness is a property of probability distributions. It describes situations where previous failures or elapsed time does not affect future trials or further wait time. Only the geometric and exponential distributions are memoryless. Consider the following examples: Not Memoryless It is known that a certain brand of laptops last about 6 years, on average, before they die. Thus, if we know that a particular laptop is 5 years old then the expected time until it dies is quite short. However, if another laptop is only 1 year old then the expected time until it dies is quite long. I... The most important of these properties is that the exponential distribution is memoryless. To see this, think of an exponential random variable in the sense of tossing a lot of coins until observing the first heads.
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