a.) How do you define the maximum credibility of the parameter theta estimate if the credibility function corresponding to data y is L(theta ; y)? How is the definition explained verbally aswell?   b.) If the statistical model is a Binomial model (repeated test model) and the parameter is the probability of success of a single repetition and is done n = 700 times (repetitions=n) and of these there are k = 11 successes, so what is the maximum-credibility estimate of the success probability theta in this model?

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