Question: Let { Y n : n > 0} denote a sequence of i.i.d continuous random variables. A record occurs at time n if Y n

  1. Let {Yn: n >0} denote a sequence of i.i.d continuous random variables. A "record" occurs at time nif Yn= max{Y1,Y2,...,Yn}.
    1. Show that Pr("a "record" occurs at time n") = 1/n
    2. Find the expected number of records by time n= 5
    3. Find the variance of the number of records by time n= 5

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