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ON OUTSTANDING VALUES IN A SEQUENCE OF RANDOM VARIABLES,
PURDUE UNIV LAFAYETTE IND DEPT OF STATISTICS
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The report considers a sequence X sub n, n or 1 of independent, identically distributed and absolutely continuous random variables. X sub j is called an outstanding value in the sequence X sub n if X sub j max X sub 1, . . . . , X sub j - 1. By convention X sub 1 is outstanding. Let L sub 0 1 and n or 1 define L sub n min jj L sub n-1, X sub j is outstanding, delta sub n L sub n - L sub n-1.
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