Define hazard function, Advanced Statistics

Hazard function: The risk which an individual experiences an event in a small time interval, given that the individual has survived up to the starting of the interval.

It is the measure of how likely an individual is to experience the event as a function of time.

Generally denoted h(t), the function can be given in terms of the probability distribution of the survival times f (t) and the survival function S(t), as h(t)= f (t)/S(t). The hazard function might remain constant, increase, decrease or take on some much more complex shape. The function can be expected as the proportion of the individuals experiencing an event in the interval per unit time, provided that they have survived to the beginning of the interval,

924_hazard function.png 
Care is required in the interpretation of the hazard function because of both the selection effects due to dissimilarity between the individuals and variation within each individual over time. For instance, individuals with a high risk are more prone to experience an event soon, and those remaining at risk will tend to be the selected group with a lower risk. This will result in hazard rate being 'pulled down' to an increasing extent as the time passes.  

Posted Date: 7/28/2012 7:00:49 AM | Location : United States







Related Discussions:- Define hazard function, Assignment Help, Ask Question on Define hazard function, Get Answer, Expert's Help, Define hazard function Discussions

Write discussion on Define hazard function
Your posts are moderated
Related Questions
Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the doo

Glim is the software package specifically suited for fitting the generalized linear models (the acronym stands for the Generalized Linear Interactive Modelling), including the log

The problem that the studies are not uniformly probable to be published in the scientific journals. There is evidence that the statistical significance is a main determining factor

a company suppliers specialized, high tensile Pins to customers. It uses an automatic lathe to produce the pins. Due to the factors such as vibration, temperature and wear and tear

Mean squarederror is the expected value of square of the difference between an estimator and the true value of the parameter. If the estimator is unbiased then the mean of the squ

when there is tie in sequencing then what we do

The Null Hypothesis - H0:  There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1:  There is heteroscedasticity i.e. β 1 0 Reject H0 if Q = ESS/2 >

difference between histogram and historigram

Duck Lovers Unlimited (DLU) Inc. assembles specially configured light jet aircrafts for airborne duck hunting. The quarterly demand forecasts for the upcoming fiscal year are:

The Null Hypothesis - H0:  There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1:  There is heteroscedasticity i.e. β 1 0 Reject H0 if |t | > t = 1.96