In this question I sought to find the probability of a component failing in a given interval $[t, t + \delta]$ assuming an exponential distribution ($T$ being the time of failure).
\begin{align*} F(t)= P(T \leq t) = 1 - e^{-\lambda t} \end{align*}
So, initially I sought $P(t \leq T \leq t + \delta)$. However, after computing some values empirically, I found that the probability of the component failing was decreasing over time which seemed counter-intuitive to me, as with an exponential distribution one would expect that the longer the component lives, the higher probability that it will experience a failure.
My intuition is that the probability I was initially computing was actually the probability that the component would fail in that interval as computed from $t=0$, and the fact that the component has survived until some time $t>0$ must be taken into account using a conditional probability along the lines of: $$P(t \leq T \leq t + \delta ~|~ t \leq T)$$
How can I compute this conditional probability?