The rank of the current lifetime

Rudolf Grübel

Statistics & Probability Letters, 1994, vol. 20, issue 4, 269-271

Abstract: Consider the standard model of renewal theory, where components with independent and identically distributed lifetimes are installed successively. We obtain the asymptotic distribution of the relative rank of the lifetime of the component in use at time t as t --> [infinity]. The result exhibits another aspect of the classical inspection paradox.

Keywords: Lifetime; Rank; Limit; distribution (search for similar items in EconPapers)
Date: 1994
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