BTW, on a slightly unrelated point, if there's no timetable, but the interval between buses is maintained reliably, the expected waiting time is uniformly distributed over that interval.
If you have to get a second bus, you need to convolve two of those two uniform distributions to find out the distribution of overall journey times. This is a trapezoidal distribution, which is just about analytically manageable.
But a journey with two transfers (3 buses in total) results in a likely overall time distributed according to a uniform distribution convolved with a trapezoidal distribution, which is a very weird non-smooth shape. You can see why people choose to model distributions with Gaussians, which are well-behaved (convolve two Gaussians, get another Gaussian). The Gaussian just lends itself ideally to recursive applications, hence recursive filtering (e.g. Kalman filters).