Definition of Hazard rate
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Hazard rate Definition from Science & Technology Dictionaries & Glossaries
Electronic Statistics Textbook
In Survival Analysis the hazard rate is defined as the probability per time unit that a case that has survived to the beginning of the respective interval will fail in that interval. Specifically, it is computed as the number of failures per time units in the respective interval, divided by the average number of surviving cases at the mid-point of the interval.