6. Suppose X1, ..., Xn is a random sample drawn from the Pareto distribution PAR(0, K) with K = 2, where the probability density function is f(x; 0, K) = K/[0(1+ x/0)*+l], ¤ > 0, 0 > 0, K > 0. (i) Find the maximum likelihood equation to be solved for estimating 0. (ii) For the data given below, find the maximum likelihood estimate of 0: 1 3. 4 6. 7 8. 9. 10 Xi 0.85 1.08 0.35 3.28 1.24 2.58 0.02 0.13 0.22 0.52

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6. Suppose X1,..., Xn is a random sample drawn from the Pareto distribution PAR(0, K)
with K = 2, where the probability density function is
f(x; 0, K) = K/[0(1+ x/0)*+], x > 0, 0 > 0, K > 0.
(i) Find the maximum likelihood equation to be solved for estimating 0.
(ii) For the data given below, find the maximum likelihood estimate of 0:
i
1
4
6.
7
8
10
0.85 1.08 0.35 3.28 1.24 2.58 0.02 0.13 0.22 0.52
Transcribed Image Text:6. Suppose X1,..., Xn is a random sample drawn from the Pareto distribution PAR(0, K) with K = 2, where the probability density function is f(x; 0, K) = K/[0(1+ x/0)*+], x > 0, 0 > 0, K > 0. (i) Find the maximum likelihood equation to be solved for estimating 0. (ii) For the data given below, find the maximum likelihood estimate of 0: i 1 4 6. 7 8 10 0.85 1.08 0.35 3.28 1.24 2.58 0.02 0.13 0.22 0.52
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