What are the different methods of MLE and when is each method preferred?

In the case of logistic regression, there are two approaches to MLE. They are conditional and unconditional methods. Conditional and unconditional methods are algorithms that use different likelihood functions. The unconditional formula employs the joint probability of positives (for example, churn) and negatives (for example, non-churn). The conditional formula is the ratio of the probability of observed data to the probability of all possible configurations.

The unconditional method is preferred if the number of parameters is lower compared to the number of instances. If the number of parameters is high compared to the number of instances, then conditional MLE is to be preferred. Statisticians suggest that conditional MLE is to be used when in doubt. Conditional MLE will always provide unbiased results.