R: Sample Mean Excess Plot

meplot {evir}

R Documentation

Sample Mean Excess Plot

Description

Plots sample mean excesses over increasing thresholds.

Usage

meplot(data, omit = 3, labels = TRUE, ...)

Arguments

data	data vector
omit	number of upper plotting points to be omitted
labels	whether or not axes are to be labelled
...	other graphics parameters

Details

An upward trend in plot shows heavy-tailed behaviour. In particular, a straight line with positive gradient above some threshold is a sign of Pareto behaviour in tail. A downward trend shows thin-tailed behaviour whereas a line with zero gradient shows an exponential tail. Because upper plotting points are the average of a handful of extreme excesses, these may be omitted for a prettier plot.

See Also

gpd, qplot

Examples

## Not run: data(danish)
## Not run: meplot(danish) 
# Sample mean excess plot of heavy-tailed Danish fire insurance data 

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[Package evir version 1.5 Index]