Example of Exponential Random Variable

Probability Theory: Suppose machines mX and mY have exponentially distributed times to failure. We find the probability that mX fails before mY, and the expected times to the first and second failures.

[shellypandey]

Thanks alot 🙏🙏🙏🙏i was looking for this since days

[MathDoctorBob]

@alullabyofpain Actuarial science is the mathematics used by insurance companies and pension plans. The focus is on long term finance - how much money do companies need to set aside now (reserves) to cover their obligations in the far future. - Bob

[MathDoctorBob]

@nahaymath Same here. I managed to avoid probability and combinatorics while in school (regrets now - Wilf was in my undergrad department). I did teach basic probability to non-math majors a few times, but I didn't learn the hard stuff until I went actuarial. - Bob

[MathDoctorBob]

@alullabyofpain I only know a little Portugese, so I could use that translation. Thanks! - Bob

[woozypompanos]

At 7:10 you say to get the mean it is one over the rate. Why was doing all that work necessary if you knew the rate was lamda x plus lamda y at 6:15? BTW amazing video, definitely most helpful source I have found on this information

[alullabyofpain]

@MathDoctorBob what is actuarial? and omg, probability rock! haha <3

[alullabyofpain]

@MathDoctorBob the guys say ``how we`ll talk to these strangers?`` the bar man ``we only got that translater`` so he gets to the girls and say ``the guy want to know whats the phone of your dog`` and to the other lady ``the other guy ask if your dad is a pilot because you`re an aeroplane`` these are common phrases you say to girls idk how its called xD but they are rude in real life haha

[alullabyofpain]

@MathDoctorBob professor, if you dont mind wathcing this tell me what u understand haha its a publicitary campaign but its a funny video haha if you dont get it i`ll explain what he is sayin xD