Simultaneous Joint Lower and Upper record values Probability Laws for Absolutely Continuous or Discrete Data

Abstract

This paper investigates the probability density function ($pdf$) of the $(2n-1)$-vector $(n\geq 1)$ of both lower and upper record values for a sequence of independent random variables with common $pdf f$ defined on the same probability space, provided that the lower and upper record times are finite up to $n$. A lot is known about the lower or the upper record values when they are studied separately. When put together, the challenges are a far bigger complicated. The rare results in the literature still present important flaws. This paper begins a new and complete investigation with a few number of records: 2 and 3. Lessons from these simple cases will allow addressing the general formulation of simultaneous joint lower-upper records.