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Modeling Data with Extreme Values Using Three-Spliced Distributions.
- Source :
-
Axioms (2075-1680) . Jul2024, Vol. 13 Issue 7, p473. 21p. - Publication Year :
- 2024
-
Abstract
- When data exhibit a high frequency of small to medium values and a low frequency of large values, fitting a classical distribution might fail. This is why spliced models defined from different distributions on distinct intervals are proposed in the literature. In contrast to the intensive study of two-spliced distributions, the case with more than two components is scarcely approached. In this paper, we focus on three-spliced distributions and on their ability to improve the modeling of extreme data. For this purpose, we consider a popular insurance data set related to Danish fire losses, to which we fit several three-spliced distributions; moreover, the results are compared to the best-fitted two-spliced distributions from previous studies. [ABSTRACT FROM AUTHOR]
- Subjects :
- *EXTREME value theory
*DATA modeling
*INSURANCE
Subjects
Details
- Language :
- English
- ISSN :
- 20751680
- Volume :
- 13
- Issue :
- 7
- Database :
- Academic Search Index
- Journal :
- Axioms (2075-1680)
- Publication Type :
- Academic Journal
- Accession number :
- 178692338
- Full Text :
- https://doi.org/10.3390/axioms13070473