Let X₁, X2,...,Xn be a random sample of size n from a geometric distribution for which p is the probabil- ity of success. (a) Use the method of moments to find a point estimate for p. (b) Explain intuitively why your estimate makes good sense.

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Let X₁, X₂, ..., Xn be a random sample of size n
from a geometric distribution for which p is the probabil-
ity of success.
(a) Use the method of moments to find a point estimate
for p.
(b) Explain intuitively why your estimate makes good
sense.
Transcribed Image Text:Let X₁, X₂, ..., Xn be a random sample of size n from a geometric distribution for which p is the probabil- ity of success. (a) Use the method of moments to find a point estimate for p. (b) Explain intuitively why your estimate makes good sense.
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