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Maximum Likelihood Estimation (MLE)

MLE stands for Maximum Likelihood Estimation, which is a statistical method used to estimate the parameters of a probability distribution based on a set of observed data.

The basic idea of MLE is to find the parameter values that maximize the likelihood function, which is a function of the parameters that measures how well the observed data fits the assumed distribution. In other words, MLE seeks to find the values of the parameters that make the observed data most probable, given the assumed distribution.

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