Capital value and annual rental of domestic properties
This page gives another example of bootstrap simulation — sampling with replacement from the actual data to build up the error distribution.
Click Accumulate and take several samples to build up the error distribution. (Note that the numbers refer to values that have been selected more than once.)
Click Estimate s.e. and bias to display the mean and standard deviation of the error distribution.
The estimation error could be as much as 0.1 but is unlikely to be greater.
Our sample correlation coefficient of 0.787 could therefore be as much as 0.1 different from the correlation coefficient for all Auckland properties.
Data were collected from a sample of 96 Auckland domestic properties in 1991. The capital value of each property was obtained and the annual rental was also found.