Paper Title: On the Application of the Extreme Value Theory in Ship’s Strength Calculations
L D Ivanov, retired (formerly with American Bureau of Shipping), USA
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.
Transactions RINA, Vol 154, Part A2, International Journal Maritime Engineering, Apr-Jun 2012
DOI No: 10.3940/rina.ijme.2012.a2.223tn
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