One out of 150 people you know wins $500 in a raffle that costs $5 to enter.

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One out of 150 people you know wins $500 in a raffle that costs $5 to enter. Find the maximum likelihood estimator of the probability of winning the raffle. What is your best guess of the average payoff?
Find the likelihood as a function of the binomial proportion p in each of the above case, and find the maximum likelihood.
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