Simulations and predictions of future values in the time-homogeneous load-sharing model

In this paper, some properties of the order dependent time-homogeneous load-sharing model are obtained, including an algorithmic procedure to simulate samples from this model. Then, the problem of how to get predictions of the future failure times is analysed in a sample from censored data (early failures). Punctual predictions based on the median, the mean and the convolutions of exponential distributions are proposed and prediction bands are obtained. Some illustrative examples show how to apply the theoretical results. An application in the study of lifetimes of coherent systems is proposed as well.