Posted in Marketing and Strategy Terms, Total Reads: 346
Definition: Life Expectancy
Life expectancy can be defined as the average number of years that an individual would live for until death. Life Expectancy may be calculated at age zero (LEB) or period LEB i.e. from the individual’s current age according to the mortality rates.
Life Expectancy can be explained by using class, gender, diet, prevalent diseases, level of medical care provided, etc. The term Life Expectancy can also be applied to manufactured goods although the term Shelf Life is more appropriate.