201. Maximum Likelihood Estimation𝐿(𝜃)=∏𝑖=1𝑛𝑓(𝑥𝑖|𝜃)Where:𝑓(𝑥|𝜃): probability density (or mass) function for each observationLog Likelihood𝓁︀(𝜃)=log𝐿(𝜃)=∑𝑖=1𝑛log𝑓(𝑥𝑖|𝜃)