Parameter Estimation and Evaluation Maximum Likelihood Estimation Maximum Likelihood Estimation Definition 2(8.2).[Maximum Likelihood Estimator,MLE] Suppose the statistic 0=n(X")maximizes L(X")over 0∈曰，conditional on Xm,where曰is a finite-dimensional parameter space.That is, 9=0n(Xm）=arg maxL(0Xm）. Then,when exists,=n(X")is called the MLE for parame- ter 0.Given a sample point (or a data set)x"for the random sample X",0(x")is called a maximum likelihood estimate for 0. Parameter Estimation and Evaluation Introduction to Statistics and Econometrics April 21,2020 20/207Parameter Estimation and Evaluation Parameter Estimation and Evaluation Introduction to Statistics and Econometrics April 21, 2020 20/207 Maximum Likelihood Estimation Maximum Likelihood Estimation Definition 2 (8.2). [Maximum Likelihood Estimator, MLE]