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Alexis
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Sycorax
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ELI5 Bootstrapping Can you explain bootstrapping like I’m 5?

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Katsu
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ELI5 Bootstrapping

I think I have a handle on what bootstrapping is and why we need to use it.

Please confirm if my understanding is correct:

Goal of bootstrapping: To find the SE of a feature’s coefficient that you estimated in your ML model.

Background: We have an Original dataset of n = 3. We ran a ML model on it and came up with a coef value for B1. This coef value is just a guess as of now. How do we determine how “correct” is this coef value?

Bootstrapping Steps:

  1. Randomly select 10 observations (w/ replacement) from original dataset. Lets call this Bootstrapped Dataset #1.

  2. Calculate B1 from Bootstrapped Dataset #1.

  3. Repeat steps 1 and 2 100 times.

  4. Now we have 100 B1’s from Bootstrapped Datasets #1-100. Calc the SE of those 100 B1’s. This represents the SE of B1 in the Original dataset.


Yes I inserted numbers like 10 and 100 to make things simpler and easier to understand vs. mathematical notation. I understand that this would be done n times in the real world.