Boris works at a government agency, and is preparing a report regarding past financial market crashes. For one part of the report, he is analysing the largest daily drop (as a percentage) in any given year of the market index. He believes a distribution from the GEV family would be suitable here.

1. a) Boris has asked his two interns, you and a young lady named Natasha, to perform some calculations for him. In Boris notes, he has scribbled the parameters for the GEV that has been chosen.

   Boris has written either (, , ) = (0.03,0.06,0.45) or (, , ) = (0.03,0.06, 0.45) (there is a small mark next to the third number, and it is unclear whether it is a minus sign).

   Natasha asks you for your opinion. Advise her on which set of parameters you believe to be correct, and explain your reasoning. Also clearly state which of the three GEV distributions this represents.