What is another word for Maximum Likelihood Estimate?
Pronunciation: [mˈaksɪməm lˈa͡ɪklihˌʊd ˈɛstɪmət] (IPA) 
Maximum Likelihood Estimate (MLE) is a statistical method widely used for parameter estimation in various fields. Synonyms for MLE include maximum likelihood estimation, method of maximum likelihood, and maximum likelihood estimation technique. It is a technique that aims to find the values of parameters that maximize the probability of observing specific data. MLE serves as a fundamental tool in statistical inference, modeling, and hypothesis testing. This approach is commonly utilized in fields such as finance, econometrics, biology, and machine learning to make predictions and draw conclusions based on data and observations. Through MLE, researchers and analysts strive to obtain the most accurate estimations and make informed decisions.
