RDP 2015-10: The Life of Australian Banknotes Appendix B: Survival Model Functions

Survival function:

Lifetime distribution function:

Destruction function:

Hazard rate:

Median life for all banknotes (not defined if p > 0.5):

Median life for returning banknotes:

Mean life for returning banknotes:

since Γ(α) = is the gamma function.