Abstract
The mean residual life (MRL) function is the mean of the conditional distribution P(X - t ϵ |X> t) as a function in t. First, it will be shown that the empirical MRL function is an inaccurate estimator of the Pareto MRL function if the shape parameter is close to 1. Therefore, other parameters of this conditional distribution such as the median and certain trimmed means are investigated. The median and the trimmed mean residual life functions possess again the property of being linear in t and can therefore be used for a visual model selection. We will prove the asymptotic normality of these statistics at increasing ages t within the framework of residual life functionals.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
