Many is not enough: Counting simulations to bootstrap the right way
Previously, I encouraged readers to test different approaches to bootstrapped confidence interval (CI) estimation. Such testing can done by relying on the definition of CIs: Given an infinite number of independent samples from the same population, we expect a ci_level CI to contain the population parameter in exactly ci_level percent of the samples. Therefore, we run “many” simulations (num_simulations), where each simulation generates a random sample from the same population and runs the CI algorithm on the sample....