13. Let X 1 , X 2 , ..., X n be independent and identically distributed continuous...
Question:
13. Let X1, X2, ..., Xn be independent and identically distributed continuous random variables. We say that a record value occurs at time j, j ≤ n, if Xj ≥ Xi for all 1 ≤ i ≤ j. Show that
(a) E[number of record values] =
$$
\sum_{j=1}^n 1/j
$$;
(b) Var[number of record values] =
$$
\sum_{j=1}^n \left( 1 - \frac{1}{j} \right)^2
$$
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