Asked by yasmine harper on Jul 25, 2024
Verified
What are the statistics for which the Bootstrap tool in Crystal Ball constructs the sampling distributions?
Bootstrap Tool
A statistical method or software tool used for estimating the sampling distribution of an estimator by resampling with replacement from the original data.
Crystal Ball
A metaphor often used to describe the unpredictability of future events or outcomes.
Sampling Distributions
Describes the probability distribution of a statistic (like a mean or variance) obtained from a large number of samples drawn from a specific population.
- Acquire the capability to utilize tools including the Correlation Matrix, Bootstrap tool, and Tornado Charts in Crystal Ball for advanced analysis.
Verified Answer
(1)Mean
(2)Median
(3)Standard deviation
(4)Variance
(5)Skewness
(6)Kurtosis
(7)Coefficient of variability
(8)Mean standard error
(9)Range minimum (multiple-simulation method only)
(10)Range maximum (multiple-simulation method only)
(11)Range width (multiple-simulation method only)
Learning Objectives
- Acquire the capability to utilize tools including the Correlation Matrix, Bootstrap tool, and Tornado Charts in Crystal Ball for advanced analysis.
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