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The generalized Pareto distribution has a support which is either bounded below only, or bounded both above and below; The metalog distribution, which provides flexibility for unbounded, bounded, and semi-bounded support, is highly shape-flexible, has simple closed forms, and can be fit to data using linear least squares.
Probability bounds analysis (PBA) is a collection of methods of uncertainty propagation for making qualitative and quantitative calculations in the face of uncertainties of various kinds. It is used to project partial information about random variables and other quantities through mathematical expressions.
In probability and statistics, the truncated normal distribution is the probability distribution derived from that of a normally distributed random variable by bounding the random variable from either below or above (or both). The truncated normal distribution has wide applications in statistics and econometrics.
For example, 5 is a lower bound for the set S = {5, 8, 42, 34, 13934} (as a subset of the integers or of the real numbers, etc.), and so is 4. On the other hand, 6 is not a lower bound for S since it is not smaller than every element in S. 13934 and other numbers x such that x ≥ 13934 would be an upper bound for S.
Probability bounds analysis is used to make arithmetic and logical calculations with p-boxes. An example p-box is shown in the figure at right for an uncertain number x consisting of a left (upper) bound and a right (lower) bound on the probability distribution for x. The bounds are coincident for values of x below 0 and above 24. The bounds ...
Whereas probability theory uses a single number, the probability, to describe how likely an event is to occur, this method uses two numbers: the upper probability of the event and the lower probability of the event. Because frequentist statistics disallows metaprobabilities, [citation needed] frequentists have had to propose new solutions.
In statistics, truncation results in values that are limited above or below, resulting in a truncated sample. [1] A random variable y {\displaystyle y} is said to be truncated from below if, for some threshold value c {\displaystyle c} , the exact value of y {\displaystyle y} is known for all cases y > c {\displaystyle y>c} , but unknown for ...
The theorem states that if you have an infinite matrix of non-negative real numbers , such that the rows are weakly increasing and each is bounded , where the bounds are summable < then, for each column, the non decreasing column sums , are bounded hence convergent, and the limit of the column sums is equal to the sum of the "limit column ...