I know how to read the chart (all of the #s are probability of failure) but what the heck is the Hazard Rate (Half life symbol) column mean in context for the exam?
Anything?
What section/What reading?
SS4 Reading 10 Section 3.2 around page 284
I think Hazard rate is a probability of premature death or probability of any kind failure thus 1-Prob. of Survive. This is related to MCS. Similar term is probability of ruin.
I guess in the context of the exam it doesnt matter since theyll give you a retirement age which only has one hazard rate assigned to it (in all of the examples I have seen)
It is not Eden Hazar the Chelsea and Belgian Footballer!? I would just write than on the exam to get a chuckle out of the marker… Q: “explain hazard rate” A: “Beligan and Chelsea’s dangerous Footballer, playing from the wings and tormenting English Premier League with his quick feet, deadly cut ins and Power full Accurate Shots”