(a) Explain the difference between methods used to obtain the two estimates ft1 and ft2. (b) Do the two estimates seem significantly different (in a practical sense)? The next step defines a...

(a) Explain the difference between methods used to obtain the two estimates ft1 and ft2.

(b) Do the two estimates seem significantly different (in a practical sense)?

The next step defines a meta-t-distribution by specifying its t-copula and its univariate marginal distributions. Values for the parameters in the univariate margins are also specified. The values of the copula parameter were already defined in the previous step.

Lower and upper bounds are used to constrain the algorithm to stay inside a region where the log-likelihood is defined and finite. The function fitMvdc() in the copula package does not allow setting lower and upper bounds and did not converge on this problem.