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Many natural phenomena exhibit size distributions that are power laws or power law type distributions. Power laws are specific in the sense that they can exhibit extremely long or heavy tails. The largest event in a sample from such distribution usually dominates the underlying physical or generating process (floods, earthquakes, diamond sizes and values, incomes, insurance). Often, the practitioner...
The characterization of tails of random variables is of major concern in a safety analysis such as a structural reliability analysis or a quantitative risk analysis of an engineering system. One of the important questions raised is whether the tail is bounded or unbounded. Therefore, in a statistical analysis of a given data set, it makes sense to use only the extreme small or large data in the...
Set the date range to filter the displayed results. You can set a starting date, ending date or both. You can enter the dates manually or choose them from the calendar.