New Estimator Simplifies Predicting Extreme Events in Various Distributions.
The article introduces a new way to estimate the starting point of certain distributions, like the Weibull distribution, without needing to know other details about the distribution. By selecting three specific data points, a reliable estimate of the starting point can be made. This method works for distributions where the starting point is crucial. The article also discusses how this estimation method behaves as more data is collected. Additionally, a different method based on percentiles is briefly mentioned, along with some practical examples.