Parameter Estimation and Evaluation Maximum Likelihood Estimation Maximum Likelihood Estimation Definition 1(8.1).[Likelihood Function] Given XT=x",the joint PMF PDF of the random sample Xm as a function of 0, (0xm)=fxn(x”,0), is called the likelihood function of the random sample X"when x"is observed.Also,In L(x")is called the log-likelihood function of the random sample Xm when x"is observed. Parameter Estimation and Evaluation Introduction to Statistics and Econometrics April 21,2020 18/207Parameter Estimation and Evaluation Parameter Estimation and Evaluation Introduction to Statistics and Econometrics April 21, 2020 18/207 Maximum Likelihood Estimation Maximum Likelihood Estimation Definition 1 (8.1). [Likelihood Function]