There are two buses: first arrives to the bus top every 8 minutes, and second arrives every 12 minutes. What is the average waiting time on a bus stop if we take whatever came first? It is expected that buses arrive at regular intervals, so first arrives every 8 minutes and second arrives every 12 minutes, but it is unknown when did they started.
I was thinking in the following way: there is 1/3 probability that second bus arrives at 8-12 minutes, so it is after the first one. In this case probability is 1/3 * 4(average waiting time for the first bus). Then we have 2/3 probability that second bus came at 0-7 minutes, and basically we have two buses that arrive every 8 minutes. In this case I estimated average waiting time as 2 minutes(4 min average waiting time and 2 minutes because there are two 8 minutes buses now) and in this case answer is 2 * 2/3 + 4 * 1/3 = 8/3 = 2 + 2/3. But I'm not sure that in case of two buses there is actually 2 minutes waiting time and not some other number, and also I think that this is a "standard" problem that should have standard way of solving. Please guide me to the correct answer.