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  3. uestion 1 unit 59 marks suppose that independent observations x1...

Question: uestion 1 unit 59 marks suppose that independent observations x1...

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uestion 1 (Unit 5)9 marks Suppose that independent observations x1, x2, Pareto distribution with pdf , Tn are available from the with β > 0. (a) Show that the log-likelihood is 1(3) n log β-(8 + 1) Σ log xi (b) Find ?(3) and hence show that the candidate MLE is (c) Confirm that β is indeed the MLE of β. (d) Explain why β > 0, as one would hope given that β > 0.

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