The future occurrence of records

SummaryThe occurrence of future record values based on data from a sequence of independent, identically distributed random variables is considered. Two situations are analysed, namely (i) where only the firstm record observations have been noted, and (ii) where all the observations have been noted up to themth, record. Tolerance regions and Bayesian predictive distributions are derived for the increase in size of the (m+r)th record value over the observedmth record value for two exponential models. Predictive distributions are also given for the additional number of observations required after themth record value until the (m+1)th record value occurs.