A Non-parametric Mean Residual Life Estimator: An Example from Market Research Kai Kopperschmidt and Ulrich Poetter Abstract
The mean residual life (mrl) function dynamically describes the
average time to an event, depending on the time since the previous
event. It provides a forecast in parallel with the development of
the underlying process. From a theoretical point of view, the mrl
characterises the distribution of the process completely, but in
contrast to other characterisations like the hazard rate, it has a
direct interpretation in terms of average behaviour.
|