“…In simplistic terms |dλ(x)| can be considered as the rate of events occurring within an infinitesimal intensity range dx about x. Alternatively, closed form solutions exist whereby the annual probability of exceeding a given level of demand can be approximated. For example, as shown in Equation 2, again adapted from [1]: (2) where λ(x edp ) is the hazard rate corresponding to a median response equal to edp, k is related to the slope of the hazard curve, b is used to described the relationship between intensity and the median conditional response and β is the dispersion in the engineering demand parameter (EDP) being examined.…”