Gumbel
The Gumbel distribution is a type of probability distribution used in statistics to model the distribution of extreme values, such as maximum or minimum observations. It is particularly useful in fields like meteorology and engineering, where understanding rare events, like floods or structural failures, is crucial.
Named after the mathematician Emil Gumbel, this distribution helps in predicting the likelihood of extreme occurrences over a specified period. The Gumbel distribution is characterized by its location and scale parameters, which determine the shape and spread of the distribution, making it a valuable tool for risk assessment and management.