Is a versitile method used to fit statistical models to data
Can be applied to a wide variety of statistical models and data structures
Provides a numerical procedure to discern which model best-fits a data set (among a set of selected models)
Produces efficient and consistent estimators under certain
Efficient - Estimates $\mathbf{\underline{\theta}}=\theta_{1},\theta_{2},...$ in the "best-manner"
Consistent - $\text{as}\;n\rightarrow\infty, \;\;f(\hat{\theta}{{MLE}}\xrightarrow{L}\theta)$
The Silly Example
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The Details
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