Studying for Exam LTAM, Part 1.9
Curtate Expectation of Life
Curtate Future Lifetime Random Variable
Studying for Exam LTAM, Part 1.8
When somebody asks you how old you are, how do you answer? Are you like most people? Do you give your age from your previous birthday? Or do you get extra-precise and say something like “I am 21 years, 5 months, and 1 week old”?
If you answer … Read the rest
Measures of Spread in Survival Models
Studying for Exam LTAM, Part 1.6
One of the main lessons students should get out of any statistics course is the fact that quantitative data can be described with summary measures.
Data come with a wide variety of “locations”, “spreads”, and “shapes”. These words refer to the nature of the distribution of a … Read the rest
Constant Force of Mortality (Exponential Distribution)
Studying for Exam LTAM, Part 1.4
Survival random variables apply to other situations besides the lifetimes of people. A common example in textbooks is the lifetime of a light bulb.
Modern-day light bulb technology seems to be much better than it was even thirty years ago. I think this is especially true with regard … Read the rest