Warranty Analysis

[vnigam]

I have done a parametric analysis on warranty data. The random variable I use in time in service for a particular commodity. I need to extarpolate this model tp estimate warranty cost at a higher time in service than the data I have. Can I just use the model I have, and predict the warranty cost at a highjer time in service, or is there a limit to which I can extrapollate?

Please advise!

[Pantelis]

See http://www.weibull.com/LifeDataWeb/warranty_analysis.htm and related links for details on your question.
More specifically see http://www.weibull.com/LifeDataWeb/warranty_prediction.htm as it relates to prediction and to your question.