Explanation:
The correct answer is C because:
Therefore, GEV requires more estimated parameters than POT (3 vs 2) and shares one parameter (the shape parameter ξ) with the POT approach.
This makes GEV more parameter-intensive but allows it to model block maxima directly, while POT focuses on exceedances over a threshold and can be more efficient for extreme value analysis.
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Q-22. The generalized extreme value (GEV) generally requires:
A
Fewer estimated parameters than the POT approach and does not share any parameters with the POT approach.
B
Fewer estimated parameters than the POT approach and shares one parameter with the POT.
C
More estimated parameters than the POT approach and shares one parameter with the POT.
D
More estimated parameters than the POT approach and does not share any parameters with the POT approach.