You are selling a merchandise to customers whose valuations for the product are distributed by the following distribution that is parameterized by two constants a and b so that  . Suppose you know that b=2 but a is unknown. To estimate a, you offered price of 2 to 100 customers from which 50 customers accepted the price. What is the treu about the MLE of a?

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A: Hi! Thank you for the question, As per the honour code, we are allowed to answer three sub-parts at…

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A: Hello! As you have posted more than 3 sub parts, we are answering the first 3 sub-parts.  In case…