(Requires Appendix material and Calculus)The log of the likelihood function (L)for the simple regression model with i.i.d.normal errors is as follows (note that taking the logarithm of the likelihood function simplifies maximization.It is a monotonic transformation of the likelihood function,meaning that this transformation does not affect the choice of maximum):
L = - 
log(2π)- 
log σ2 - 
Derive the maximum likelihood estimator for the slope and intercept.What general properties do these estimators have? Explain intuitively why the OLS estimator is identical to the maximum likelihood estimator here.
Definitions:
Sustainability
The ability to maintain or improve environmental, social, and economic conditions for future generations through responsible and careful use of resources.
Biodiversity
The variety of life in the world or in a particular habitat or ecosystem.
Conservation Group
An organization that aims to preserve, protect, and restore the environment and wildlife.
Mass Extinction
A significant and rapid decrease in the diversity and abundance of life on Earth, often due to catastrophic events.
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