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Title

On the Application of the Extreme Value Theory in Ship’s Strength Calculations

Category Papers
Year 2012
Author L D Ivanov
DOI 10.3940/rina.ijme.2012.a2.223tn

Abstract/Description

A procedure is proposed for application of the extreme value theory (EVT) approach considering not only the maximal value of the corresponding random variable but also its probability of exceedance. It substantially reduces the probability of exceedance of any given limit value used in the case when traditional EVT is applied. Examples are provided to illustrate its application when records of the random process are available.

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