Question: Complete the following problem in RStudio using R Markdown. In class we have found MLEs of various distributions. For this problem you will need to
Complete the following problem in RStudio using R Markdown. In class we have found MLEs of various distributions.
For this problem you will need to follow the steps outlined below using the distribution in question 1 above.
1. Generate 90 random variables from your distribution with = 0.8. NOTE: You will need to use the package distr.
2. Create a mesh of values and find the likelihood and log-likelihood functions for these values.
3. Scale both functions to have a maximum of 1, and plot them on the same plot, clearly labelled.
4. Indicate the value of the MLE on the plot as well as the true value of . Comment on the implications of this plot.
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