In a particular city, the population proportion supports an increase in the minimum wage For a random sample of size 2, let Y number who support an increase a Assuming 0 50, specify the probabilities for the possible values y for Y and find the distributions mean and standard deviation b Suppose yo...

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In a particular city, the population proportion supports an increase in the minimum wage. For a

Question:

In a particular city, the population proportion π supports an increase in the minimum wage. For a random sample of size 2, let Y = number who support an increase.

a. Assuming π = 0.50, specify the probabilities for the possible values y for Y and find the distribution’s mean and standard deviation.

b. Suppose you observe y = 1 and do not know π. Find and sketch the likelihood function. Using the plotted likelihood function, explain why the ML estimate πˆ =

0.50.