How many bootstrap resamples do you need, and which statistics does it handle?
medium- Given data ,...,, sample n observations with replacement to form X*, compute the statistic θ̂*, repeat B ≈ 1000-10000 times to build an empirical distribution of θ̂.
- Use it to compute SEs, CIs, and bias.
- Works for any statistic , no distributional assumption.
- Weaknesses: bad for extreme statistics (max), heavy tails, small n, and violated i.i.d.