Question
Find the likelihood as a function of the binomial proportion p in each of the following cases, and find the maximum likelihood. One out of
Find the likelihood as a function of the binomial proportion p in each of the following cases, and find the maximum
likelihood.
- 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?
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Mathematical Applications For The Management, Life And Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
12th Edition
978-1337625340
