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QUESTION
Refer to the previous exercise. Suppose y = 0 in 2 flips. Find the ML estimate of . Does this estimate seem "reasonable"? Why?
Refer to the previous exercise. Suppose y = 0 in 2 flips. Find the ML estimate
of π. Does this estimate seem “reasonable”? Why? [The Bayesian estimator
is an alternative one that combines the sample data with your prior beliefs
about the parameter value. It provides a nonzero estimate of π, equaling (y +
1)/(n + 2) when your prior belief is that π is equally likely to be anywhere
between 0 and 1.]
