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
f(v:B)= 684
- fa
0<y<∞ and ß>0
0,
elsewhere
200
200
200
and suppose that n = 200, y = 20, y = 100, y = 250 and $ = 0.025.
i=1
i) Derive the standard error of ß, se(B) = 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 f(v:B)= 684 - fa 0<y<∞ and ß>0 0, elsewhere 200 200 200 and suppose that n = 200, y = 20, y = 100, y = 250 and $ = 0.025. i=1 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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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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