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Percentile residual life orders
Author(s) -
FrancoPereira Alba M.,
Lillo Rosa E.,
Romo Juan,
Shaked Moshe
Publication year - 2010
Publication title -
applied stochastic models in business and industry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.413
H-Index - 40
eISSN - 1526-4025
pISSN - 1524-1904
DOI - 10.1002/asmb.825
Subject(s) - residual , percentile , stochastic ordering , mathematics , reliability (semiconductor) , econometrics , random variable , statistics , computer science , algorithm , power (physics) , physics , quantum mechanics
In this paper we study a family of stochastic orders of random variables defined via the comparison of their percentile residual life functions. Some interpretations of these stochastic orders are given, and various properties of them are derived. The relationships to other stochastic orders are also studied. Finally, some applications in reliability theory and finance are described. Copyright © 2010 John Wiley & Sons, Ltd.