resampling

Vocabulary Word

Definition

'Resampling' is a statistical method where you generate new samples from an original dataset. It's like picking a group of random people from a crowd, counting them and then picking another random bunch.

Examples in Different Contexts

In technology, 'resampling' is vital for refining machine learning models and assessing their reliability. A machine learning engineer might say, 'By using resampling techniques like bootstrapping, we can estimate the precision of our models and improve their predictive performance.'

Practice Scenarios

Business

Scenario:

The company needs to predict potential financial risks to prepare better. We need to utilize our existing data as much as possible.

Response:

You're right, we can deploy resampling techniques on our historical data to estimate potential risks.

Academic

Scenario:

To ensure our research is statistically significant, we may need to consider additional analysis of our collected data.

Response:

That makes sense. Using resampling methods, we can draw additional findings from our existing dataset.