Mill's ratio
The Mills' ratio is the ratio of the complementary c.d.f. to the p.d.f. for a continuous variable.
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Description
The ratio is defined in reference to a p.d.f. f(.) and the corresponding c.d.f. F(.).
This is the inverse of the hazard rate.
For the standard normal distribution, lower and upper bounds can be proven for this ratio. As x approaches negative infinity, the ratio approaches 0. As x approaches infinity, the ratio approaches infinity.