An Extension of the Inverse Gaussian Distribution
Talha Arslan · WORLD SCIENTIFIC (EUROPE) eBooks · 2022
In this study, an α-monotone extension of the inverse Gaussian (αIG) distribution is introduced. Then, the method of moments estimations for the parameters of the αIG distribution is provided. A real dataset is used to show the fitting performance of the αIG distribution. The results show that the αIG distribution fits the corresponding dataset better than the IG distribution if the well-known goodness-of-fit statistics are taken into account. Note that the αIG distribution is defined as a general class of the IG distribution by adding a new shape parameter. It can be considered an alternative to the IG distribution in modeling data from different areas of science.