> 30,000 times more initial energy than any recorded events
As a statistician: this is why heavy-tailed modeling matters. Schools teach the finite-variance version of the Central Limit Theorem and students believe they live in a normal world. The real Central Limit Theorem [1] predicts large rare events following Lévy α-stable distributions.
As a statistician: this is why heavy-tailed modeling matters. Schools teach the finite-variance version of the Central Limit Theorem and students believe they live in a normal world. The real Central Limit Theorem [1] predicts large rare events following Lévy α-stable distributions.
[1] https://en.wikipedia.org/wiki/Stable_distribution#A_generali...