1.4 Maximum Likelihood Estimation

Question 1

What assumptions does MLE require?

Answer 1

All Gauss Markov assumptions as well as some others

Question 2

Informally how does the MLE choose an estimator?

Answer 2

It chooses the estimator to be that value which is most likely to have given rise to the observed sample

Question 3

What must we assume or be given to make MLE operational?

Answer 3

A functional form of f