An early bath for the bathtub model

(Jun 6, 2012)

My last posting looked at why actuaries fitted survival models differently to statisticians, even though the conceptual framework for survival models is common to both disciplines.  In this posting we look at why actuaries and demographers use different models from engineers.

Survival analysis plays an important role in reliability engineering, and survival models are used to model the time to failure of a component or device. Mathematically this is the same as modelling the time to death of an individual, although engineers use different terminology from actuaries and demographers. However, although the mathematics is identical, the shape of the hazard function is typically very different: mechanicalů

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Tags: survival models, mortality, bathtub hazard

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