The Bootstrap

Bootstrapping is a statistical method used to estimate the reliability of a data analysis or model by repeatedly sampling from the original data with replacement. Imagine taking many new "pseudo-datasets" from the original data, each time randomly selecting data points but allowing repeats. Analyzing each one helps assess the variability, confidence intervals, and stability of the results without needing extra data. It's like testing the robustness of a conclusion by seeing how it holds up under numerous simulated scenarios derived from the original dataset.