In the 1800s, the saying “No man can lift himself by his own boot straps” was used as a metaphor for the impossibility of improvement solely through one’s own effort. - But computer can! / HN

Statistics (alternatives Meaning)

• Main Ideas - Bootstrapping is one of the simplest, yet most powerful methods in all of statistics. It provides us an easy way to get a sense of what might happen if we could repeat an experiment a bunch of times. It turns point estimates into distributions that can be used to calculate all kinds of stuff, including standard errors, confidence intervals and even p-values. In this video, we show how it can be used to calculate standard errors and confidence intervals