Actuarial Mathematics
The hazard function is a measure used in survival analysis that describes the instantaneous rate of failure or death at a given time point, conditional on survival until that time. It connects various aspects of mortality and life expectancy by quantifying the risk of an event occurring over time, helping to better understand how risks accumulate as individuals age. The hazard function plays a critical role in modeling survival data and assessing the impact of covariates on the survival experience.
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