Estimate the variance of the estimators and construct normal and non-normal confidence intervals.
Free SOA Exam ASTAM (Advanced Short-Term Actuarial Mathematics) lesson in Construction and Selection of Parametric Models. 20 min read, ~3,035 words.
Score equation: the MLE solves. Write, log, differentiate, set to zero, solve, then confirm a maximum with. Variance from Fisher information:; for multiple parameters use the square root of the i-th diagonal of the inverse Hessian, not. Delta method for transformed estimators:. Wald CI (normal):. Symmetric, uses because asymptotic, and...
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What this lesson covers
- Content
- Example 1
- Example 2
- Example 3
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- 4b
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