Some peculiarities of exponential random variables (Q2774458)

The author proves two rather surprising distributional identities for truncated weighted sums and maxima of iid exponentially distributed random variables. The proofs, which proceed by induction, make use of a strong lack of memory property. It would seem that the identity for sums can also be proved by use of Laplace transforms. The identities are applied to an inventory system, where use is made of the relation between uniform spacings and exponentially distributed random variables.