Let X1, X2, ⋯ be i.i.d. and Yk = max{X1, X2, ⋯, Xk}. Then Xj is a record value of the sequence if $Y_{j} > Y_{j - 1}$. Denoting record value times by Ln, n = 1, 2 ...

Continuous Variable: can take on any value between two specified values. Obtained by measuring. Discrete Variable: not continuous variable (cannot take on any value between two specified values).

This is a preview. Log in through your library . Abstract The stationary non-negative Markov chains {Yn} and {Xn} specified by the relations $Y_{n\,+\,1} = \min(Y_{n ...

Discover how probability distribution methods can help predict stock market returns and improve investment decisions. Learn to assess risk and potential gains.

Students of statistics and researchers in search of a stats review will appreciate the Probability-Distributions app designed by Dr. Matthew Bognar at the University of Iowa. The app includes ...