Chapter 2

Question 1

When do we use bootstrapping?

Answer 1

To create a sampling distribution without drawing many samples

Question 2

What are the main advantages and main limitations of using bootstrapping?

Answer 2

Advanteg:Calculation of any samples statistic is possible (ex: median)
Limitation: Cannot always be representative of Sampling distribution

Question 3

When do we use the Exact approach?

Answer 3

When it is possible to calculate ALLL possible sample statistics and creating true sampling distribution