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ERIC Number: EJ1404919
Record Type: Journal
Publication Date: 2023
Pages: 5
Abstractor: As Provided
ISBN: N/A
ISSN: N/A
EISSN: EISSN-2693-9169
Available Date: N/A
Preparing Students for the Future: Extreme Events and Power Tails
Marek Arendarczyk; Tomasz J. Kozubowski; Anna K. Panorska
Journal of Statistics and Data Science Education, v31 n3 p305-309 2023
We provide tools for identification and exploration of data with very large variability having power law tails. Such data describe extreme features of processes such as fire losses, flood, drought, financial gain/loss, hurricanes, population of cities, among others. Prediction and quantification of extreme events are at the forefront of the current research needs, as these events have the strongest impact on our lives, safety, economics, and the environment. We concentrate on the intuitive, rather than rigorous mathematical treatment of models with heavy tails. Our goal is to introduce instructors to these important models and provide some tools for their identification and exploration. The methods we provide may be incorporated into courses such as probability, mathematical statistics, statistical modeling or regression methods. Our examples come from ecology and census fields. Supplementary materials for this article are available online.
Taylor & Francis. Available from: Taylor & Francis, Ltd. 530 Walnut Street Suite 850, Philadelphia, PA 19106. Tel: 800-354-1420; Tel: 215-625-8900; Fax: 215-207-0050; Web site: http://www.tandf.co.uk/journals
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A
Author Affiliations: N/A