Lecture 20 Maximum Likelihood Estimation
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The log-likelihood ratio test
uses likelihood to compare the fits of two probability models to the data
The log-likelihood curve
is a plot of the log- likelihood of all possible values of the parameter
The log-likelihood
is the natural log of the likelihood: ln L
The log-likelihood confidence interval
is the range of values for the parameter whose log-likelihood lies within X(2, 0.05, 1)/2 units of the maximum
The maximum likelihood estimate
is the value for which the probability of obtaining the observed data is highest
Likelihood
measures how well the data support a particular value for a parameter. It is the probability of obtaining the observed data if the parameter equaled that value