I was looking at a youtube video for Maximum Likelihood Estimation. The lecturer said Maximum Likelihood Estimation doesn't have any representation of uncertainty, which I didn't really get. Can somebody explain what it means?
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1$\begingroup$ Could you provide a reference to the video (e.g. name of the lecturer, link etc.)? $\endgroup$– TimCommented Feb 21, 2017 at 10:59
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It means that the MLE is a point estimator, which does not indicate how accurate this estimation is. In order to quantify uncertainty about the estimation using MLE, you need to use interval estimation such as confidence intervals or profile likelihood intervals.
