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In this video, the log rank test is explained, including how it is calculated using formulas from the book "Survival Analysis" by David G. Kleinbaum and Mitchell Klein. The test is used in survival time analysis to compare the distribution of time to an event occurrence in two or more independent samples. The test determines if there is a difference between different groups, such as materials used for dental fillings. It analyzes whether there is a difference in survival time between the groups being compared.