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Let X be a binomial random variable with parameters (n, p) . What value of p maximizes P{X=k}, k=0,1, …, n ? This is an example of a statistical method used to estimate p when a binomial (n, p) random variable is observed to equal k. If we assume that n is known, then we estimate p by choosing that value of p that maximizes P{X=k}. This is known as the method of maximum likelihood estimation. | Numerade
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