The problem with your answer is the step $Z = \min(X,Y) \to E[Z] = \min(E[X], E[Y])$. The expectation is the integral
$$
E[Z] = \int \! \min(x,y) \, f_X(x) \, f_Y(y) \, dx \, dy \;,
$$
which, as you can see, does not allow you to simply pull the expectation of $X$ and $Y$ into the $\min$ function.
As explained in detailed in the answers to another question, the easiest way to get the distribution of $Z = \min(X, Y)$ is via the cumulative distribution function $F_Z$, which is
$$
F_Z(z) = F_X(z) + F_Y(z) - F_{X,Y}(z,z) \;.
$$
In case of independent $X$ and $Y$, which I assume is the case here, the joint c.d.f. factors,
$$
F_Z(z) = F_X(z) + F_Y(z) - F_X(z) F_Y(z) \;.
$$
Here, we have exponential distributions for $X$ and $Y$, so the result is
$$
F_Z(z) = 1 - e^{-\frac{3}{4}z} \;.
$$
The expectation value is
$$
E[z] = \int_{0}^{\infty} \! z \, F_Z'(z) \, dz = \frac{4}{3} \;,
$$
or 80 seconds.
The median is that value of $z$ where half the probability mass is below $z$ (and, naturally, half above). In other words
$$
F_Z(z) = \frac{1}{2} \implies z = \frac{4 \log(2)}{3} \;,
$$
or about 55 seconds.