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Journal Article

On random age and remaining lifetime for populations of items

Finkelstein, M. S., Vaupel, J. W.

Applied Stochastic Models in Business and Industry, 31:5, 681-689 (2015)

DOI:10.1002/asmb.2073

Abstract

We consider items that are incepted into operation having already a random (initial) age and define the corresponding remaining lifetime. We show that these lifetimes are identically distributed when the age distribution is equal to the equilibrium distribution of the renewal theory. Then we develop the population studies approach to the problem and generalize the setting in terms of stationary and stable populations of items. We obtain new stochastic comparisons for the corresponding population ages and remaining lifetimes that can be useful in applications.

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