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1.4 A coin is flipped twice. Let Y= number of heads obtained, when the probability of a head for a flip equals . a. Assuming r -0.50, specify the probabilities for the possible values for Y, and find the distributions mean and standard deviation. b. Find the binomial probabilities for Y when π equals (i) 0.60, (ii) 0.40. c. Suppose you observe y - 1 and do not know r. Calculate and sketch the likelihood function. d. Using the plotted likelihood function from (e). show that the ML estimate of π equals 0.50.

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