Representative Points of the Inverse Gaussian Distribution and Their Applications

The inverse Gaussian (IG) distribution, as an important class of skewed continuous distributions, is widely applied in fields such as lifetime testing, financial modeling, and volatility analysis. This paper makes two primary contributions to the statistical inference of the IG distribution. First, a systematic investigation is presented, for the first time, into three types of representative points (RPs)-Monte Carlo (MC-RPs), quasi-Monte Carlo (QMC-RPs), and mean square error RPs (MSE-RPs)-as a tool for the efficient discrete approximation of the IG distribution, thereby addressing the common scenario where practical data is discrete or requires discretization. The performance of these RPs is thoroughly examined in applications such as low-order moment estimation, density function approximation, and resampling. Simulation results demonstrate that the MSE-RPs consistently outperform the other two types in terms of approximation accuracy and robustness. Second, the Harrell-Davis (HD) and three Sfakianakis-Verginis (SV1, SV2, SV3) quantile estimators are introduced to enhance the representativeness of samples from the IG distribution, thereby significantly improving the accuracy of parameter estimation. Moreover, case studies based on real-world data confirm the effectiveness and practical utility of this quantile estimator methodology.

Authors

Institutions

Publication Details

Journal
Entropy
Published
2025-11-24
DOI
https://doi.org/10.3390/e27121190
Primary Topic
Statistical Distribution Estimation and Applications
Type
article
Field-Weighted Citation Impact
0.00
Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

Representative Points of the Inverse Gaussian Distribution and Their Applications

Xiaoling Peng, WenWen Hu, Kai-Tai Fang
Entropy
Statistical Distribution Estimation and Applications
article

Representative Points of the Inverse Gaussian Distribution and Their Applications

Xiaoling Peng, WenWen Hu, Kai-Tai Fang
article en

Abstract

The inverse Gaussian (IG) distribution, as an important class of skewed continuous distributions, is widely applied in fields such as lifetime testing, financial modeling, and volatility analysis. This paper makes two primary contributions to the statistical inference of the IG distribution. First, a systematic investigation is presented, for the first time, into three types of representative points (RPs)-Monte Carlo (MC-RPs), quasi-Monte Carlo (QMC-RPs), and mean square error RPs (MSE-RPs)-as a tool for the efficient discrete approximation of the IG distribution, thereby addressing the common scenario where practical data is discrete or requires discretization. The performance of these RPs is thoroughly examined in applications such as low-order moment estimation, density function approximation, and resampling. Simulation results demonstrate that the MSE-RPs consistently outperform the other two types in terms of approximation accuracy and robustness. Second, the Harrell-Davis (HD) and three Sfakianakis-Verginis (SV1, SV2, SV3) quantile estimators are introduced to enhance the representativeness of samples from the IG distribution, thereby significantly improving the accuracy of parameter estimation. Moreover, case studies based on real-world data confirm the effectiveness and practical utility of this quantile estimator methodology.

EntropyVol. 27(12)
Beijing Normal-Hong Kong Baptist University (CN), Hong Kong Baptist University (HK), Chinese Academy of Sciences (CN)
Openalex Percentile: Top 67%
Statistical Distribution Estimation and Applications
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.