What Is the Rationale Behind the Bootstrap Procedure,in Which Trees

question 30

Essay

What is the rationale behind the bootstrap procedure,in which trees are repeatedly reconstructed following resampling with replacement of the original data?

---

Definitions:

Comparative Advantage

An economic theory that describes how a country or entity can produce goods and services at a lower opportunity cost than others.

International Trade

Trading goods, services, and capital across borders or territories between countries.

World Price

The international market price of a good or service, determined by global supply and demand.