It depends on the context. It can refer to the parameter of the Poisson distribution, the length (particularly wavelength), the distance parameter in vector representation of a line r = a + lambda*b where r, a and b are vectors.
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In the ancient Greek system, the letter Lambda had a value of 30. Nowadays, the lower case lambda stands for the wave length. In statistics, it is the parameter of the Poisson distribution and represents the reciprocal of the frequency.
The special character in your question didn't come through.If it was a horizontal bar then it implies the sample mean; for example, for a sample of 'x' values (usually numbered 1, 2, 3, ..., n) x with a bar over it would mean the statistical average or mean of these numbers.If the special character was a caret then it implies any of a variety of statistical estimators. For example, if you had assumed for some reason that the data had arisen from a population with a Poisson distribution with parameter 'lambda' then you might see a Greek letter lambda with a caret over it to represent a formula for calculating a statistical estimate of that parameter.
PI is the Latin name of the Greek letter(by Greek letter I mean the PI symbol.
Pi is a letter in the Greek alphabet. It has been represented by the Greek letter "π" since the mid-18th century
the 5th letter of the greek alphabet (aka e in english)