Useful financial functions in Excel
10,000 independent realizations of service time above were simulated in Excel. The theoretical hazard rates were plotted and compared against estimates of the hazard rate, based on the simulation data. (The method used for hazard rate estimation is described on the next page.) 0 0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4 0 5 10 15 20 time hazard rate ................
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