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"Extreme-Value" Methods Simplified

Author

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  • Botts, Ralph R.

Abstract

New methods have been devised for fitting skewed statistical distributions that conform to a double exponential model. Such distributions characterize a large class of phenomena of interest to agricultural economists. Distributions of data involving rainfall, temperature, crop yields, crop-hail losses, and others follow this pattern,. The new technique, under the name of the theory of extreme values, makes use of graphics and is much less complex and time-consuming than older methods. But most of the available literature is highly mathematical and not easily understood. This paper presents a nonmathematical explanation for the working agricultural economist.

Suggested Citation

  • Botts, Ralph R., 1957. ""Extreme-Value" Methods Simplified," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 9(3), pages 1-9, July.
    • Handle: RePEc:ags:uersja:144927
    DOI: 10.22004/ag.econ.144927
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