B.3.2 final exercise statement correction
July 24th, 2017
In the last exercise from lesson B.3.2, previously the density function for the Pareto future lifetime random variable was misstated. This has been fixed both in the lesson video and in the handouts.
This hasn’t caused too many problems because the density was not used directly in the solution presented in the lesson. However, it is a big problem if you use the first principles method instead of the survival function method for finding the complete expected future lifetime. That method is harder here, but it is doable, and I also added a silent postscript to the lesson showing the steps in that alternate method for finding the result.