mrl.plot: Mean Residual Life Plot
Description
An empirical mean residual life plot, including confidence
intervals, is produced. The mean residual life plot aids
the selection of a threshold for the GPD or point process
models.Usage
mrl.plot(data, umin = min(data), umax = max(data) - 0.1,
conf = 0.95, nint = 100)Arguments
data
A numeric vector of data to be fitted.
umin, umax
The minimum and maximum thresholds at which
the mean residual life function is calculated.
conf
The confidence coefficient for the confidence
intervals depicted in the plot.
nint
The number of points at which the mean residual
life function is calculated.