I have an exercise, where I am given 5 data points:
x1 = 10, x2 = 7, x3 = 1, x4 = 15, x5 = 8
generated independently.
For the first part, I am told that they follow a Poisson distribution, of parameter theta and I am asked to find the maximum likelihood estimate for theta.
I calculated argmax(theta) of ln(x1,x2,x3,x4,x5 | theta)
and got a result of
theta = 41/5 = 8.2
.
For the second part I am asked the same thing, but this time I am told that they follow an Exponential distribution of paramter theta.
I did the same calculus and got a result of
theta = 5/41 = 0.12
.
Now I am asked which of these two distributions(Poisson or Exponential) is the most probable to have generated the 5 points (x1,x2,x3,x4,x5).
Basically I need to find out which of these two distributions has the highest probability to have generated the 5 points, based (I believe) on that theta that I calculated for both.
But I can't seem to figure it out what's the form of these 2 probabilities that I need to find. Is it the MAP probability? P(theta | x1,x2,x3,x4,x5) ? If yes, I can use the Bayes formula to get
P(x1,x2,x3,x4,x5 | theta) * P(theta) / P(x1,x2,x3,x4,x5). But what is P(theta) and P(x1,x2,x3,x4,x5) ?
Any ideas?