The observed total time on test and the observed excess wealth

Xiaohu Li and Moshe Shaked

Statistics & Probability Letters, 2004, vol. 68, issue 3, 247-258

Abstract: Let X be a nonnegative random variable with mean [mu][less-than-or-equals, slant][infinity], and let TX be the total time on test transform of X. It has been observed in the literature that the inverse of TX is a distribution function with support (0,[mu]). In this paper, we identify the random variable that has this distribution, and we study some of its properties. We also study an analogous random variable that is based on what is called the excess wealth transform.

Keywords: Stochastic; orders; Pareto; distribution; NBUE; IFR; IFRA; HNBUE (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (9)

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