Bootstrap estimate is the method for calculating measures of accuracy to sample estimates. Bootstrap estimate falls under the category of re-sampling methods.
Bootstrap is used for estimating standard errors, biases and to calculate intervals of any statistics.
Let the given Data be “x”.
A Bootstrap sample is a random sample of size “a” taken with replacement from “x”
x* = (x1*, x2*,x3*,x4*,x5*…………..xa*)
Then, Bootstrap Replication:
of statistics Ê = s (x) is
Ê* = s (x*)
So, Bootstrap estimate of Standard Error is the observed standard deviation of repeated bootstrap replication.