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An IEEE working group has proposed a statistical approach to the problem to define
Major Event Days or MEDs. Their recommendation, known as the Beta Method, works
like this
The major event day (MED) is any event that causes the outage duration time to be
more than major event threshold minutes (T
MED
) .. T
MED
can be calculated as,
where,
e = exponential constant
= log average of the daily SAIDI for last five years
= log standard deviation of the daily SAIDI for last five years.