A coin is ?ipped twice. Let Y =number of heads obt...
A coin is flipped twice. Let Y =number of heads obtained, when the probability of a head for a flip equals π. a. Assuming π =0.50 , specify the probabilities for the possible values for Y, and find the distribution’s mean and standard deviation. b. Find the binomial probabilities for Y when π equals (i) 0.60, (ii) 0.40. c. Suppose you observe y =1 and do not know π. Calculate and sketch the likelihood function. d. Using the plotted likelihood function from (c), show that the ML estimate of π equals 0.50.