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Iowa Curves


One of various deterioration models applied to the life cycle or assets. The Iowa curves are survivor curves developed in a study at the University of Iowa in the 1950s comprised of a set of 31 standardized patterns of asset retirement dispersion organized into four broad classes, as follows:
Purpose and Application of the Curves Each curve represents a probability distribution and has a series of attributes. The curves are helpful in a variety of ways, including:
Attributes Listed below are some of the attributes of each of the four classes of Iowa curves. RightModal Curves

Fig. Some of the key statistical elements of an asset survivor curve. Fig. Leftmodal curves (shown in "blue") and rightmodal curves (shown in "green) relative to their respective modes and their means. Fig. Bell curve (in "red") with perfect symmetry compared to skewed curves. Fig. Generic leftmodal ("L") curve (with positive skewness) indicating a long right tail. Fig. Example of the probability distribution along a leftmodal ("L") curve (positive skewness). Fig. Right modal curves to order1, order2 and order3 (left) and three performance classes along a rightmodal survivor curve (right) . Fig. I. Care is trying to connect the dots to reveal the patterns in the data that underpin his assets. 

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