Abstract
In this paper, we propose a consistent method of estimation for the parameters of the three-parameter inverse Gaussian distribution. We then discuss some properties of these estimators and show by means of a Monte Carlo simulation study that the proposed estimators perform better than some other prominent estimators in terms of bias and root mean squared error. Finally, we present two real-life examples to illustrate the method of inference developed here.
Acknowledgements
The authors are grateful to the referee for useful comments and suggestions which led to improvements of the manuscript. Hideki Nagatsuka was partially supported by the Grant-in-Aid for Young Scientists (B) 21710155, The Ministry of Education, Culture, Sports, Science and Technology, Japan.