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SoftGuide > Functions / Modules Designation > Bootstrap method

Bootstrap method

What is meant by Bootstrap method?

The bootstrap method is a statistical technique for estimating uncertainties in estimates of statistical parameters. It relies on repeatedly drawing samples from a given dataset with replacement to create an empirical distribution of estimates. This method is particularly useful when there is no analytical solution available for uncertainties or when the assumptions for classical methods are not met.

Typical functions of software in the field of the bootstrap method could include:

Generating bootstrap samples from given data.
Computing statistical estimates (e.g., mean, median, quantile) based on the bootstrap samples.
Constructing confidence intervals for estimates.
Visualizing the bootstrap distribution or uncertainties in the estimates.