Question: Every time Mr Jones goes to the race track he
Every time Mr. Jones goes to the race track he bets on three races. In a random sample of 20 of his visits to the race track, he lost all his bets 11 times, won once 7 times, and won twice on 2 occasions. If θ is the probability that he will win any one of his bets, estimate it by using the maximum likelihood estimator obtained in Exercise 10.68.
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