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I need help figuring out these problems. Please help me by answering and showing me explanations. Problem 2. You believe the time you must wait
I need help figuring out these problems. Please help me by answering and showing me explanations.
Problem 2. You believe the time you must wait for the bus is described by a continuous uniform distribution with lower bound 0. Over the next 5 days, the times you have to wait (in minutes) are: 11,7,16,4,5. What is the maximum likelihood estimate of the upper bound of this uniform distribution? Problem 3. In the previous problem, assume that the actual true upper bound is 20 minutes. What are the bias and MSE of the maximum likelihood estimator for this problem? (Hint: one of the solved problems in the text may be helpful.)Step by Step Solution
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