While there are formulas and tools for performing simple functions like addition, subtraction, multiplication, etc. in Excel, exponential calculations could be a little complicated. There is no ...
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 ...
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