The Problem
Let X1,X2,…,Xn be i.i.d. Uniform(0,1) random variables. Define Mn=max(X1,…,Xn) and mn=min(X1,…,Xn).
- Compute E[Mn] and E[mn].
- Compute Var(Mn) and Var(mn).
- Compute E[Mn−mn] (the expected range).
- Generalize: for i.i.d. Uniform(0,1), find the expected k-th order statistic X(k).