Resampling in Statistics
Subject: Business Statistics | Topics:

Resampling in Statistics involves the selection of randomized cases with replacement from the original data sample in such a manner that each number of the sample drawn has a number of cases that are similar to the original data sample. It is the method that consists of drawing repeated samples from the original data samples. It generates a unique sampling distribution on the basis of the actual data. It refers to the use of the observed data or of a data generating mechanism to produce new hypothetical samples that mimic the underlying population, the results of which can then be analyzed.

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