Question: Problem #4 (15 Points): Maximum likelihood estimation. A product's life follows an exponential distribution with an unknown parameter 1. Three randomly selected items (Item 1,

Problem #4 (15 Points): Maximum likelihood estimation. A product's life follows

an exponential distribution with an unknown parameter 1. Three randomly selected items

Problem #4 (15 Points): Maximum likelihood estimation. A product's life follows an exponential distribution with an unknown parameter 1. Three randomly selected items (Item 1, Item 2 and Item 3) of the product were put on test at time 0. The testing of a fourth item (Item 4) was delayed, and its testing started at x, . However, the life test for all

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