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Journal of Environmental Accounting and Management 12(2) (2024) 129--139 | DOI:10.5890/JEAM.2024.06.002

Thilini V. Mahanama$^1$, Pushpi Paranamana$^2$, Dimitri Volchenkov$^3$

$^1$ Department of Industrial Management, Faculty of Science, University of Kelaniya, Kelaniya, 11600, Sri Lanka

$^2$ Department of Mathematics & Computer Science, Saint Mary's College, IN 46556, USA

$^3$ Department of Mathematics & Statistics, Texas Tech University, Lubbock TX 79409-1042, USA

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Abstract

We examine the relationship between property losses caused by tornadoes and their physical parameters, namely the tornado path length and width, using data reported by the % Database National Oceanic and Atmospheric Administration in the United States.~We observe that the statistics of property losses cannot be described by a single distribution % Our solution: learn two-dimensional statistical manifold but rather by a two-dimensional statistical manifold of distributions that may reflect two different mechanisms of property loss compensations. % Methods Assessing the difference between distributions of losses caused by tornadoes using Kolmogorov-Smirnov's distance, we construct the 2-D manifold using the method of multi-dimensional scaling. % Results Then we define a “curvature coefficient” that characterizes the contraction and expansion of the derived manifold to explain the complex dynamics of the probability distributions of losses. % Conclusions: Extreme Events The regions with expansions identify the ranges of physical parameters for which the extreme tornado events may occur, which helps in assessing compensation strategies.

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