A Weighted Estimation for Risk Model

Table 5

The estimation of index, mean, median, and VaR for forest fire loss data.

Method	𝛼	𝜇	Median	5% value at risk
Pareto(Hill)	4.3044	1.096 billion	1.09 billion	1.855 billion
TPD(Aban)	0.7964	1.167 billion	1.15 billion	1.446 billion
TPD(Moment)	0.8260	1.166 billion	1.15 billion	1.446 billion
TPD(Weighted)	0.8642	1.165 billion	1.15 billion	1.446 billion