## What is the output of a standard MLE program?

The output of a standard MLE program is as follows:

**Maximised likelihood value:** This is the numerical value obtained by replacing the unknown parameter values in the likelihood function with the MLE parameter estimator.

**Estimated variance-covariance matrix:** The diagonal of this matrix consists of the estimated variances of the ML estimates. The off-diagonal consists of the covariances of the pairs of the ML estimates