131 – Simulation and MCMC
Evaluating Sufficient Bootstrapping for Confidence Interval Estimates: A Simulation Approach
Khairul Islam
Department of Mathematics and Statistics, Eastern Michigan University
Tanweer Shapla
Department of Mathematics and Statistics, Eastern Michigan University
Recent studies compare sufficient bootstrapping with conventional bootstrapping using point estimates of parameters, along their biases, relative efficiencies, etc. With numerical illustration and simulation, it claims that sufficient bootstrapping performs better than the conventional bootstrapping in certain situations. In real life, confidence interval estimates are preferable to point estimates. Confidence interval estimates take into account the variability of the point estimates for making better inference. In this paper, we provide algorithm to implement sufficient bootstrapping for constructing confidence interval estimates for several parameters such as mean, variance, standard deviation and coefficient of variation for better evaluating the performance of sufficient bootstrapping as compared to the conventional bootstrapping. A simulation study has been undertaken for evaluating confidence interval estimates using the estimated coverage probability and confidence length. This evaluation makes the recommendation for the sufficient bootstrapping stronger.