Question: (Requires Section 11.3 and calculus) Suppose that a random variable y has the following probability distribution: Pr(Y - 1) = p. Pr(Y2) = q. and

(Requires Section 11.3 and calculus) Suppose that a random variable y has the following probability distribution: Pr(Y - 1) = p. Pr(Y2) = q. and Pr(Y 3) 1-p-q. A random sample of size n is drawn from this dis- tribution and the random variables are denoted Y, Y.... Y

a. Derive the likelihood function for the parameters p and q.

b. Derive formulas for the MLE of p and q.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Econometrics Questions!