13 - Jackknife and Bootstrap

Question 1

What can Jackknife be used for?

Answer 1

to investigate the bias and variance of our estimators within any particular model

Question 2

What is Bootstrap?

Answer 2

a tremendously versatile method for estimating the standard errors and bias of parameter estimates and has largely supplied the jackknife

Question 3

How does the bootstrap work?

Answer 3

Instead of simulating new data from a known model (which will be impossible in real scenarios), we can randomly sample with replacement from our observed sample of data

Question 4

What does the bootstrap provide?

Answer 4

Good estimates of the bias and standard error of our estimators

Question 5

Since Jaccknife and Bootstrap are used for the same general purposes, which is better?

Answer 5

Bootstrapping is the the predominant nonparametric method used for bias and standard error calculations

Question 6

Since Jackknife and Bootstrap are used for the same general purposes, which is better?

Answer 6

Bootstrapping is the predominant nonparametric method used for bias and standard error calculations