Abstract: | Drought parameters, namely the longest duration, largest severity and the intensity have been calculated in relation to the truncation levels ranging from 0 to −05 in the standardized domain for the normal, gamma and log‐normal probability distribution functions (PDFs) of the drought variables. The drought variables taken in the investigation are the annual rainfall and runoff time‐series evolving randomly and obeying the Markovian dependence. The analysis showed that the assumption of independence of the drought duration and intensity works well in deriving the expression for drought severity at various truncation levels. An estimate of drought intensity has been realized from the concept of the truncated normal distribution of the standardized form of the time‐series of drought variables in the normalized domain. Furthermore the non‐normality and the dependence in the time‐series have a significant effect on the drought parameters at the truncation levels under consideration. Copyright © 2000 John Wiley & Sons, Ltd. |