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1. You have a regional country-year dataset over 10 years of 150 total observations, within this data you have 25 observations where the ruling party has lost power.
(a) Assuming a binomial distribution, what is the likelihood function for Π, the probability that a country's ruling party loses power over ten years?
(b) Calculate the MLE of Π
(c) Calculate the standard error and the 95% confidence interval for this estimate. How did you know what test/sampling distribution to use?
(d) What is the value of the log-likelihood for this estimate?
(e) Say that for another region the estimated probability of a ruling party losing power over a ten-year span is 25%, using your region's data, what is the value of the log-likelihood function for a .25 value of Π?
(f) Using a Wald test, test whether your region's rate of over turning power is significantly different from the other region's.
Q1 Choose the option that is closest to the exact value of the probability P (30 ≤ X Q2 Choose the option that is closest to the approximate value of the probability P
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