Extreme Values: Applications and Probability Framework

This lecture covers the concept of extreme values in random variables, focusing on cases when a variable is extremely large or low. Applications of extreme value theory include environmental factors like sea levels and wind speeds, as well as reliability modeling. The lecture also discusses the probability framework for block maxima distribution and classical limit laws, such as the Central Limit Theorem. Additionally, it explores the Extremal Types Theorem and the Generalized Extreme Value (GEV) distribution, providing insights into moments, quantiles, and model checking techniques.