|
|
 |
| |
|
|
|
A Comprehensive Review: Current Record Values and Their Applications |
|
|
|
PP: 401-423 |
|
|
doi:10.18576/amis/200208
|
|
|
|
Author(s) |
|
|
|
Ramy A. Aldallal,
H. M. Barakat,
|
|
|
|
Abstract |
|
|
| Record value theory has been a key part of probability and statistics for a long time. However, the tracking of current record values, both upper and lower extremes at the same time, has not received enough theoretical focus. This review brings together and builds on recent developments in current records. It covers distribution theory, asymptotic properties, moment recurrences, and predictive inference. It also has practical applications in fields such as meteorology, reliability, quality control, and finance. The article presents k-sliding records, a new way to monitor local extremes within limited moving windows. It also includes new distribution results for concomitants of current records. These additions connect record theory with multivariate dependence modeling and lay the groundwork for further exploration using copula-based methods. This revitalizes current records as an important area for research that has significant practical applications. |
|
|
|
|
|
|
|
