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Definition: Gamma distribution is a distribution that arises naturally in processes for which the waiting times between events are relevant. It can be thought of as a waiting time between Poisson distributed events. Probability density function: The waiting time until the hth Poisson event with a rate of change Î» is.
I am trying to fit a three parameter inverse gamma distribution to my data in either R or Python. I would like to do this using maximum likelihood estimation (MLE). The pdf of the three parameter inverse gamma is given by: