Question: For waiting time 2. Use the method of maximum likelihood to estimate the rate Î» from the accompanying table of data drawn from an exponential

For waiting time 2. Use the method of maximum likelihood to estimate the rate Î» from the accompanying table of data drawn from an exponential distribution.

In each case, find the likelihood function, find the maximum likelihood, and say whether if seems probable that the true rate is 1.0.

Event Waiting Time 1 1.565 0.888 0.874 5.156 0.018 0.048 1496 0.422 0.721 1.119 Waiting Time 2 0.47279 1.69516 3.67104 0.97018 0.37539 0.44228 3.79148 1.19057 0.14163 0.19354 9 t0

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