Analysis of distributions using stochastic models with fuzzy random variables
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https://doi.org/10.58414/SCIENTIFICTEMPER.2024.15.4.06Keywords:
Fuzzy set, Random variables, Stochastic orders, Mean residual life, Hazard rate.Dimensions Badge
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The significance of this paper lies in the investigation of a novel method for comparing the expectations of stochastic models in fuzzy settings. In order to comprehend actuarial science and economical modeling, stochastic models are necessary. The primary benefit of the paper is to comprehend the novel ideas of stochastic comparison of stochastic models built on the exponential order. We applied the fuzzy mean inactivity time order definition, solved the preservation properties and theorem, and created a new definition. Applications involving stochastic models are presented.Abstract
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