When studying, I came across the following:

For a continuous random variable, the hazard rate or failure rate is h(x)=f(x) divided by (1-F(x))

Could someone explain what this is and when it is used?

Thanks!

For a continuous random variable, the hazard rate or failure rate is h(x)=f(x) divided by (1-F(x))

Could someone explain what this is and when it is used?

Thanks!

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