Abstract
In this paper, a new distribution called the extended inverse Gaussian (EIG) distribution is introduced. By means of the method of T-X family, the new distribution is compounded by the inverse Gaussian (IG) and Weibull distributions. We study its fundamental properties, such as probability density function, hazard rate function, raw moments, moments generating function, skewness and kurtosis, and residual life. We also discuss the maximum likelihood estimators and asymptotic confident intervals of parameters in new distribution. Finally, the EIG distribution and several other competing distributions are fitted into an actual data set and it is shown that the EIG distribution has a superior performance among the compared distributions by making use of various goodness-of-fit tests.
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