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Problem 1 (10 points). What is Analogy principle? How do you use it in estimating 3 where X N Binomial(n,6) (check lecture 5 slides). Now,

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Problem 1 (10 points). What is Analogy principle? How do you use it in estimating 3 where X N Binomial(n,6) (check lecture 5 slides). Now, suppose we want to estimate p success probability where X N Bernoulli(p). How would you estimate :0 by using Analogy principle? What kind of sample (or data) do you need? Explain your estimation procedure

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