Stochastic properties of varentropy based on residual lifetime.

The objective in the study of reliability and survival theory is to have precision in the extracted information. The measure of dispersion in the information content has been newly introduced in the information theory, known as varentropy. Studying the variability in the uncertainty measure is found productive for stochastic systems conditional on survival. In this paper, we provide a novel stochastic order based on the notion of residual varentropy and study its properties. Further on the basis of the residual varentropy, novel classes of life distributions are identified and investigated in detail. Moreover, some applications of the proposed order are produced at the end. [ABSTRACT FROM AUTHOR]