S4E03 Two-Stage Least Squares Strikes Back
Quantitude
Maximize the Probability of the Data You Have in Your Hand
maximum likelihood looks at things from a different perspective. As you would say, it's Calvin Ball. It changes the rules on you is very, very clever. There are elegant sexy Hulkways mathematical ways to try to derive those sexy. But they rest on some particular assumptions. And one of them right out of the gate is that the observations themselves are independent.
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