S
srivadana
Member
Hi I have a doubt in the third bit of 7th question in April 2003 UK exam paper
In the third bit where we have to write down the likelihood function. I have written. the mulitplied pdf of x1...x6 (for the claims <=M) and then multiplied by (p(xi>M))^4. Which is wrong according to the report answer.
I have also noticed that in the reports they mentioned the comment on the mistake I made.
A common error was to express the likelihood as the probability of 4 claims exceeding M multiplied by the product of x1 to x6.
I don't understand why my way of expressing likelihood is a mistake.
can you explain? thanks!
In the third bit where we have to write down the likelihood function. I have written. the mulitplied pdf of x1...x6 (for the claims <=M) and then multiplied by (p(xi>M))^4. Which is wrong according to the report answer.
I have also noticed that in the reports they mentioned the comment on the mistake I made.
A common error was to express the likelihood as the probability of 4 claims exceeding M multiplied by the product of x1 to x6.
I don't understand why my way of expressing likelihood is a mistake.
can you explain? thanks!