State the key components of ‘extreme value theory (EVT)’ w

Question

State the key components of ‘extreme value theory (EVT)’ with a particular reference to the ‘generalised extreme value (GEV) distribution

30 Aug 2021

Answer :

Word Count : 311

The field of extreme value theory was pioneered by Leonard Tippett . Tippett was employed by the British Cotton Industry Research Association, where he worked to make cotton thread stronger. In his studies, he realized that the strength of a thread was controlled by the strength of its weakest fibres. With the help of R. A. Fisher, Tippet obtained three asymptotic limits describing the distributions of extremes assuming independent variables. Emil Julius Gumbel codified this theory in ________ __________ ___ _____ ___ ___ ________ ____ _________ __________ ___.
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