i) Derive the standard error of ß, se(B) = 0.0009, using MLE approach. ii) Find an approximate 95% Confidence interval for B.

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c) Let Y₁, Y2,..., Yn be a random sample whose probability density function is given by
y³
f(y; B) = 684
0 <y<∞ and ß> 0
0,
elsewhere
200
and suppose that n = 200, 2y = 20, 20 y? = 100, 2y = 250 and = 0.025.
200
i) Derive the standard error of ß, se() = 0.0009, using MLE approach.
ii) Find an approximate 95% Confidence interval for B.
Transcribed Image Text:c) Let Y₁, Y2,..., Yn be a random sample whose probability density function is given by y³ f(y; B) = 684 0 <y<∞ and ß> 0 0, elsewhere 200 and suppose that n = 200, 2y = 20, 20 y? = 100, 2y = 250 and = 0.025. 200 i) Derive the standard error of ß, se() = 0.0009, using MLE approach. ii) Find an approximate 95% Confidence interval for B.
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Firstly it is required to determine the MLE of the parameter and then the variance to get the required confidence interval.

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