Minimize some quantity of interest

Reference no: EM131830360

Continuation. In practice it might be of interest to determine the value of a in the previous problem in order to minimize some quantity of interest, such as cost. Let us, as an example, consider exponentially distributed lifetimes; Y_k ∈ Exp(λ), k ≥ 1.

(a) Compute µw and µ_z for that case.

(b) Restate the conclusions.

(d) The limits turn out to be independent of a. Interpret this fact.

Reference no: EM131830360

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