Challenge: Convex Optimization
Understand how to frame parameter estimation as a convex optimization problem by using maximum likelihood estimation on beta-distributed data. Learn to implement the mle_estimate function that finds the shape parameter of a beta distribution from viewer ratings.
We'll cover the following...
We'll cover the following...
Problem statement
Suppose a new movie is released and you want to estimate the probability that a random viewer will like it. You assume that this probability follows a beta distribution with a fixed lower bound of
Mathematical formulation
You collect some data by asking