Abstract
This paper explores the characteristics of the LP3 distribution in both log space and real space, and their relationship. The analysis reveals that the LP3 distribution provides a reasonable model of annual flood series for log space skews |�x| � 1.414 and standard deviations in the range 0 – 3.6 with base e logarithms. A wide range of alternative parameter estimation methods for the LP3 distribution are explored in the hydrologic literature, including the method of moments (MOM), maximum likelihood estimators (MLEs), and mixed moments. While the method of mixed moments does very well in comparison to MOM and MLE in the absence of regional information, the Monte Carlo analysis demonstrates that the MOM estimators with regional skew information as recommended by Bulletin 17B [IACWD, 1982] is more attractive, and the more precise the regional skewness estimator the more precise are flood quantile
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