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bootstrapping
This term evokes the image of pulling oneself up by one's own bootstraps, suggesting a self-reliant start without outside assistance. In business, it carries a connotation of grit and frugality, often viewed as a badge of honor for entrepreneurs who avoid venture capital to retain total control.
In technical fields, the word shifts from a metaphor of effort to a description of a sequence. In computing, it refers to the critical bridge between hardware power and software execution. In statistics, it describes a specific mathematical technique of resampling to create a simulated population from a single sample.
Meanings
The process of starting a company or project with little to no external capital, relying instead on personal savings and early revenue.
A computing process where a system loads itself into memory from a small initial program, allowing it to start up from a powered-off state.
A statistical method of resampling with replacement to estimate the sampling distribution of a statistic.
Examples
We decided on bootstrapping to maintain full control over our company equity.
I can't afford a fancy office yet since I am bootstrapping this venture from my garage.
Bootstrapping is a risky path but it forces you to be lean and efficient.
The system is currently bootstrapping the kernel to initialize the hardware.
Wait for the bootstrapping process to complete before attempting to log in.
The firmware handles the initial bootstrapping of the operating system.
I will use bootstrapping to estimate the confidence intervals for this small sample size.
Is bootstrapping the best approach for calculating the variance in this dataset?