Abstract
The extreme-value type-1 (EV1) distribution can be viewed as the distribution that satisfies two specified expected values. These expected values give rise to a method of parameter estimation referred to as the method of maximum entropy (MME). The main purpose of this note is to provide a scheme to estimate the variances and covariance of the MME estimators. As a by-product of the simulation runs used, some useful sampling properties of the MME estimators are obtained. These clearly show that the MME is a good method for fitting the EV1 distribution, and the approximations obtained analytically for the variance of estimates of the T-year event are of sufficient accuracy.
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