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? is a Pareto rv with probability distribution function given by f(x) = bx −(b+1) ,...

? is a Pareto rv with probability distribution function given by f(x) = bx −(b+1) , x≥ 1 where b is a positive number between 0 and 1

Show that ? = ln(?) has exponential distribution, ? ∼ exp(?), and find the maximum likelihood estimator of b. Explain why the moment of method fails to work in this case.

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