Data Analysis & Simulation

Extreme Value Distributions

EasyFit: select the best fitting distribution and use it to make better decisions. learn more
EasyFit Screenshot - Click To Enlarge
Download Free Trial

The problem of modeling extreme or rare events arises in many areas where such events can have very negative consequences. Some examples of rare events include extreme floods and snowfalls, high wind speeds, extreme temperatures, large fluctuations in exchange rates, and market crashes. To develop appropriate probabilistic models and assess the risks caused by these events, business analysts and engineers frequently use the extreme value distributions (EVD). read the full article

Leave a Reply

You must be logged in to post a comment.