- Hacettepe Journal of Mathematics and Statistics
- Vol: 46 Issue: 5
- Properties of future lifetime distributions and estimation
Properties of future lifetime distributions and estimation
Authors : Harmanpreet Singh Kapoor, Kanchan Jain
Pages : 935-952
View : 15 | Download : 5
Publication Date : 2017-10-01
Article Type : Research
Abstract :Distributional properties of continuous future lifetime of an individual aged x have been studied. The expressions for moments, coecients of skewness and kurtosis have been derived when newborn's lifetime follows dierent distributions. The maximum likelihood (ML) estimation of the parameters of future lifetime's distributions has been explored for whole life and term assurance contracts. Simulations have been carried out to find the ML estimates and the corresponding root mean square errors.Keywords : Future Lifetime, Whole life assurance, Term assurance, Maximum Likelihood Estimation, Censoring