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- W1643587668 abstract "Profile likelihood intervals of large quantiles in Extreme Value distributions provide a good way to estimate these parameters of interest since they take into account the asymmetry of the likelihood surface in the case of small and moderate sample sizes; however they are seldom used in practice. In contrast, maximum likelihood asymptotic (mla) intervals are commonly used without respect to sample size. It is shown here that profile likelihood intervals actually are a good alternative for the estimation of quantiles for sample sizes $25 leq nleq 100$ of block maxima, since they presented adequate coverage frequencies in contrast to the poor coverage frequencies of mla intervals for these sample sizes, which also tended to underestimate the quantile and therefore might be a dangerous statistical practice. In addition, maximum likelihood estimation can present problems when Weibull models are considered for moderate or small sample sizes due to singularities of the corresponding density function when the shape parameter is smaller than one. These estimation problems can be traced to the commonly used continuous approximation to the likelihood function and could be avoided by using the exact or correct likelihood function, at least for the settings considered here. A rainfall data example is presented to exemplify the suggested inferential procedure based on the analyses of profile likelihoods." @default.
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- W1643587668 date "2010-05-19" @default.
- W1643587668 modified "2023-09-27" @default.
- W1643587668 title "Profile Likelihood Intervals for Quantiles in Extreme Value Distributions" @default.
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