Perform survival model and hazard rate calculations.
Free CAS MAS-I (Modern Actuarial Statistics I) lesson in Probability Models. 11 min read, ~1,635 words.
Survival function; strictly non-increasing,. Hazard rate; the instantaneous failure rate given survival to. Cumulative hazard, so. Mean lifetime; mean residual life. Exponential is the unique constant-hazard distribution; Weibull hazard is monotone; Gompertz hazard grows exponentially with age.
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- Example 1
- Example 2
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Learning objectives
- A4
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