Cooperation among radios in wireless networks has been shown to improve communication in several aspects. We analyze a wireless network which employs multiple parallel relay transceivers to assist in communication between a single source-destination pair, demonstrating that gains are achieved when a random subset of relays is selected. We derive threshold values for the received signal-to-noise ratios (SNRs) at the relays based on outage probabilities; these thresholds essentially determine the active subset of relays in each time frame for our parallel relay network; due the random nature of wireless channels, this active subset is a random. Two established forwarding protocols for the relays, Amplify-and-Forward and Decode-and-Forward, are combined to create a hybrid relaying protocol which is analyzed in conjunction with both regenerative coding and distributed space-time coding at the relays. Finally, the allocation of power resources to minimize the end-to-end probability of outage is considered.