Hi. This is question 6 in revision booklet 3b. I do not understand why they use N-K (employees observed - employees retiring) in the likelihood function, rather than M (the actual number of deaths) Please advise! Thanks
you asking about power of \(\nu \) ? I don't have revision booklet, but I see in exam paper power is M. I think in revision booklet they used another assumption than in exam paper solution.
Oh ok - yes I'm looking at the power of v . If the paper uses M, then I'm happy with that. I can;t figure out an assumption which would use N-K. Thanks for responding!
