Question: Let X 1 , X 2 , X 3 , and X 4 be a random sample drawn from an exponential distribution, Exponential( ) .

Let X₁, X₂, X₃, and X₄ be a random sample drawn from an exponential distribution, Exponential(). Suppose we observed (x₁, x₂, x₃, x₄). Find the likelihood function and an estimate for .

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