[Solution Library] Consider a random sample of size n from a Pareto distribution, Xi ~ PAR (theta, 2). Find the ML Equation d/d θ (ln L(θ))
Question: Consider a random sample of size n from a Pareto distribution, Xi ~ PAR (theta, 2).
- Find the ML Equation d/d \(\theta \) (ln L( \(\theta \) )) = 0
(b) From the data of Example 4.6.2, compute the ML estimate, theta hat, to three decimal places. Note: the ML equation cannot be solved explicitly for theta hat, but it can be solved numerically, by an iterative method, or by trial and error.
Deliverable: Word Document 
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