5.75.* Let be the probability that a randomly selected voter prefers the Republican candidate. You sample

5.75.* Let π be the probability that a randomly selected voter prefers the Republican candidate. You sample two people, and neither prefers theRepublican. Find the point estimate of π. Does this estimate seem sensible? Why?

(The Bayesian estimator is an alternative one that uses a subjective approach, combining the sample data with your prior beliefs about π before seeing the data. For example, if you believed π was equally likely to fall anywhere from 0 to 1, the Bayesian estimate adds two observations, one of each type, thus yielding the estimate 1/4.)