An aspiring poker player recorded her winnings and losses over 49 evenings of pl

Question

An aspiring poker player recorded her winnings and losses over 49 evenings of play. The daily winnings averaged $90.08, but were very volatile with a standard deviation of $703.68. The poker player would like to better understand how precise the standard deviation estimate is of the volatility in her long term play, so she constructed a bootstrap distribution for the standard deviation. Fill in the blanks in the sentences below.

(1 point) An aspiring poker player recorded her winnings and losses over 49 evenings of play. The daily winnings averaged $90.08, but were very volatile with a standard deviation of $703.68. The poker player would like to better understand how precise the standard deviation estimate is of the volatility in her long term play, so she constructed a bootstrap distribution for the standard deviation. Fill in the blanks in the sentences below. The bootstrap distribution is constructed by taking bootstrap samples of size from the original sample, (enter either WITH or WITHOUT) replacement. For each sample we find and record the (enter either MEAN or STANDARD DEVIATION)

Explanation / Answer

The bootstrap distribution is constructed by taking bootstrap samples of size 49 from the original sample with replacement. For each sample we find and record the Standard Deviation

Explanation:

A bootstrap sample is a random sample taken with replacement from the original sample of the same size as the original sample.A bootstrap statistic is the statistic computed on a bootstrap sample.A bootstrap distribution is the distribution of many bootstrap statistics.

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