CFA Level I · CFA Level I Exam · Estimation and Hypothesis Testing
A jackknife procedure is applied to a sample of 20 observations to estimate the variability of a statistic. The number of resampled data sets created and the size of each are most likely:
The jackknife produces 20 data sets, each with 19 observations. It omits one observation at a time, giving n samples of size n minus 1. Bootstrap samples are instead drawn with replacement, are the same size as the original, and their number is chosen by the analyst.
- A20 data sets, each of 19 observationsCorrect
- B20 data sets, each of 20 observations
- C1,000 data sets, each of 20 observations
Explanation
The jackknife leaves out one observation at a time, so n = 20 samples each of size n-1 = 19. Sampling with replacement of size 20 describes the bootstrap, and the number of bootstrap replications is chosen by the analyst, not fixed at n.
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