On a new approach to estimate the shape parameter of the inverse Gaussian distribution

In this paper, we propose a new simple method for estimating the shape parameter of the inverse Gaussian distribution. This new method makes use of the reciprocal property of the distribution. Also, bias-reduced versions of this proposed estimator are introduced. Furthermore, a new test for the coefficient of variation in an inverse Gaussian distribution is derived. The performance of the estimators are evaluated via Monte Carlo simulations. In …