To Generate a Bootstrap Standard Error of an Estimate, There

question 4

Multiple Choice

To generate a bootstrap standard error of an estimate, there are four steps. Which of these is not one of them?

• A) First, use a computer to randomly sample the original data, without replacement, to make a new data set.
• B) Second, calculate the estimate using the sampled values in the first step.
• C) Third, repeat the first two steps a large number of times.
• D) Fourth, the bootstrap standard error is the standard deviation of the set of values from step three.

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Definitions:

Quality Standards

Established criteria or benchmarks that describe the characteristics of a product, service, or process to ensure it meets customer and regulatory requirements.

Inventories Classified

The categorization of stock or inventory based on various criteria, such as type, usage rate, or value, to ensure efficient management and control.

Bullwhip Effect

A phenomenon in supply chain management where small fluctuations in demand at the retail level cause progressively larger fluctuations in demand at the wholesale, distributor, and manufacturer levels.

Supply Chain

The supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.