bootstrap

How Does Bootstrapping Work?

The basic steps involved in bootstrapping are:
Resampling: Randomly sample with replacement from the original dataset to create a new dataset of the same size.
Estimation: Calculate the desired statistic (e.g., mean, proportion) from the resampled dataset.
Repetition: Repeat the resampling and estimation process many times (e.g., 1000 or 10,000 iterations).
Distribution Analysis: Analyze the distribution of the resampled statistics to estimate the sampling distribution.

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