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1 WHY EXTREME VALUE THEORY? 1.1 A Simple Extreme Value Problem Many statistical tools are available in order to draw information concerning spec?c measures in a statistical distribution. In this textbook,
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Begin by identifying the purpose and objective of the extreme value analysis. Understand why this analysis is necessary and how it will add value to your project or decision-making process.
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Collect relevant data and information related to the variables or factors that require extreme value analysis. This may include historical records, statistical data, market trends, or any other relevant sources.
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