Database Reference
In-Depth Information
We can see that the median clusters pretty closely around the sample's median (1480).
How it works…
Bootstrapping validates whether the output of a function over a data sample represents
that value in the population by repeatedly resampling from the original sample of inputs to
the function. But there's a twist. When the original sample was created, it was done without
replacement, that is, without duplicates. The same observation cannot be included in the
sample twice.
However, the resampling is done with replacements, which means duplicates are permitted.
Actually, since the resample is the same size as the original sample that it's drawn from, there
must be observations that are in the resample more than once.
Each resampling is then fed to the function being validated, and its outputs are used to
estimate the distribution of the population.
