Estimating the Service Life of Household Goods by Actuarial Methods
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Abstract Actuarial methods are applied to data obtained from two household surveys to derive a measure of the service-life expectancy of household goods under one owner. This measure is of value to economists concerned with family budgets, and to manufacturers and distributors interested in knowing how often the consumer will enter the market. Although the samples obtained in the two surveys were too small to yield reliable estimates of service life, the data are used to illustrate the problems encountered and techniques used. Recommendations are made concerning schedule design and field procedures.