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Suppose that youre going to school and arrive at a bus stop. How long do you have to wait before the next bus arrives? Surprisingly, it is longer - possibly much longer - than what the bus schedule suggests intuitively. This phenomenon, which is called the waiting-time paradox, has a purely mathematical origin. Different buses arrive with different intervals, leading to this paradox. In this article, we explore the waiting-time paradox, explain why it happens, and discuss some of its implications (beyond the possibility of being late for school).
This mathematical recreation extends the analysis of a recent paper, asking when a traveller at a bus stop and not knowing the time of the next bus is best advised to wait or to start walking toward the destination. A detailed analysis and solution i
We consider a model of a population of fixed size N in which each individual gets replaced at rate one and each individual experiences a mutation at rate mu. We calculate the asymptotic distribution of the time that it takes before there is an indivi
In high frequency financial data not only returns but also waiting times between trades are random variables. In this work, we analyze the spectra of the waiting-time processes for tick-by-tick trades. The numerical problem, strictly related with the
Few statistically compelling correlations are found in pulsar timing data between the size of a rotational glitch and the time to the preceding glitch (backward waiting time) or the succeeding glitch (forward waiting time), except for a strong correl
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