Bob tells Alice to draw repeatedly from the uniform distribution on [0,1] until her current draw is less than any previous draw, and he will pay her $n, where n is the number of draws. What is the average value of this game for Alice?
Bob tells Alice to draw repeatedly from the uniform distribution on [0,1] until her current draw is less than any previous draw, and he will pay her $n, where n is the number of draws. What is the average value of this game for Alice?