What Is Bootstrapping in Regards to Statistics

Bootstrapping is a statistical technique that falls under the broader heading of resampling.  This technique involves a relatively simple procedure but repeated so many times that it is heavily dependent upon computer calculations.  Bootstrapping provides a method other than confidence intervals to estimate a population parameter. Bootstrapping very much seems to work like magic. Read on to see how it obtains its interesting name. An Explanation of Bootstrapping One goal of inferential statistics is to determine the value of a parameter of a population. It is typically too expensive or even impossible to measure this directly. So we use statistical sampling. We sample a population, measure a statistic of this sample, and then use this statistic to say something about the corresponding parameter of the population. For example, in a chocolate factory, we might want to guarantee that candy bars have a particular mean weight. It’s not feasible to weigh every candy bar that is produced, so we use sampling techniques to randomly choose 100 candy bars. We calculate the mean of these 100 candy bars and say that the population mean falls within a margin of error from what the mean of our sample is. Suppose that a few months later we want to know with greater accuracy -- or less of a margin of error  -- what the mean candy bar weight was on the day that we sampled the production line. We cannot use today’s candy bars, as too many variables have entered the picture (different batches of milk, sugar and cocoa beans, different atmospheric conditions, different employees on the line, etc.). All that we have from the day that we are curious about are the 100 weights. Without a time machine back to that day, it would seem that the initial margin of error is the best that we can hope for. Fortunately, we can use the technique of bootstrapping. In this situation, we randomly sample with replacement from the 100 known weights. We then call this a bootstrap sample. Since we allow for replacement, this bootstrap sample most likely not identical to our initial sample. Some data points may be duplicated, and others data points from the initial 100 may be omitted in a bootstrap sample. With the help of a computer, thousands of bootstrap samples can be constructed in a relatively short time. An Example As mentioned, to truly use bootstrap techniques we need to use a computer. The following numerical example will help to demonstrate how the process works. If we begin with the sample 2, 4, 5, 6, 6, then all of the following are possible bootstrap samples: 2 ,5, 5, 6, 64, 5, 6, 6, 62, 2, 4, 5, 52, 2, 2, 4, 62, 2, 2, 2, 24,6, 6, 6, 6 History of the Technique Bootstrap techniques are relatively new to the field of statistics. The first use was published in a 1979 paper by Bradley Efron. As computing power has increased and becomes less expensive, bootstrap techniques have become more widespread. Why the Name Bootstrapping? The name â€Å"bootstrapping† comes from the phrase, â€Å"To lift himself up by his bootstraps.† This refers to something that is preposterous and impossible. Try as hard as you can, you cannot lift yourself into the air by tugging at pieces of leather on your boots. There is some mathematical theory that justifies bootstrapping techniques. However, the use of bootstrapping does feel like you are doing the impossible. Although it does not seem like you would be able to improve upon the estimate of a population statistic by reusing the same sample over and over again, bootstrapping can, in fact, do this.

Intergenerational Diversity Challenges and Conflicts in...

Intergenerational Diversity Challenges and Conflicts in the Workplace Todays American workforce is unique. Never before has there been a workplace so diverse in so many ways: Race, gender, ethnicity, and generational differences exist to a greater extent than ever before. As the U.S. Department of Labor Bureau of Labor Statistics (2004) study reported, large corporations could lose between two and four percent bottom line productivity due to generational differences and miscommunication in the workplace. The same study also asserts that billions of dollars are lost each year because corporate leadership has not yet recognized, nor accounted for, the impact of significantly different generational diversity values, attitudes, and†¦show more content†¦They are also more adaptable to the rapid pace at which technology is progressing and changing. This is a result of both formal education and informal cultural and social experiences. For example, the younger generations grew up playing video games and using computers and the internet at home an d school. Such experience and knowledge can in turn lead to salary expectations and differences between workplace generations. This is readily seen in the IT industry. Gomolski notes that its not uncommon to see relatively inexperienced IT professional commanding large salary premiums because they have ‘hot skills, often earning more than individuals with more years of experience (2001). As Clausing (2003) notes, Nexters exceed all other generations in their knowledge of computers and technology. Technology is assimilation for them, whereas for everyone else it is an accommodation (p. 374). Different communications styles and expectations between different generations can also cause conflict in todays generationally diverse workplace and can create a motivational challenge for managers. 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Should the Right to Assisted Suicide be Legal Free Essays

Persuasive Essay Should terminally ill patients have the right to doctor-assisted seclude? The right to assisted suicide Is an Important topic that concerns people all around the e united States. Debates go back and forth on whether or not a dying patient should continue to suffer or die to relieve all that pain. I think assisted seclude should be legal, because what If the person wants it, what if it makes them shriek from the pain. We will write a custom essay sample on Should the Right to Assisted Suicide be Legal? or any similar topic only for you Order Now It’s their body and they c loud do whatever they want to it and we can’t control that. Terminal patients should be given the right to assisted suicide in order to end their suffering and pain, give them an option to De termini their own life and what they want to do with it, and it reduces financial problems of h capital care on their families. First off terminally ill patients have the fight to doctor assisted suicide because it can end their suffering and pain. Imagine being in a hospital for a long time, getting treatments, take inning medicine, and Just feeling like crap. The doctor says you don’t have much time to live, wouldn’t you Just want to end all the pain quicker? This spring, arrear old, Brittany Maynard learned that she had terminal brain cancer. After careful assessment of her prognosis s and ended life choices, she and her family reluctantly decided to move from their San Francisco Bay Area home to Oregon, that authorize death with dignity. How to cite Should the Right to Assisted Suicide be Legal?, Papers