What are the limitations of bootstrapping in statistics?
An example of an AI chatbot conversation about the limitations of bootstrapping.
What are the limitations of bootstrapping in statistics?
Bootstrapping has several limitations, including reliance on the assumption that the sample is representative of the population.
Can you explain how sample size affects bootstrapping?
Yes, smaller sample sizes can lead to less reliable bootstrap estimates, as they may not capture the population's variability.
Are there any situations where bootstrapping is not recommended?
Bootstrapping is not recommended when the sample size is too small or when the data is heavily skewed.
What are some alternatives to bootstrapping?
Alternatives include parametric methods, Bayesian approaches, or using larger datasets for more accurate estimates.
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