A Review on Inverse Maxwell Distribution with Its Statistical Properties and Applications

Abstract

In this article, we review the inverse Maxwell distribution and establish its statistical properties including moments, descriptive measures and stochastic orderings. We derive complete sufficient statistic, minimum variance unbiased estimator and maximum likelihood estimator for the parameter. We obtain Bayes estimators of the parameter under non-informative (Jeffrey’s) as well as conjugate priors. We also provide confidence and highest posterior density intervals for the parameter. Two real data sets, GAGurine and Guinea pig data, have been considered for numerical illustrations. Finally, we discuss some areas of applications and further extensions of inverse Maxwell distribution for the future research work.