The confidence interval formula is extremely complicated to derive, which is one of the justifications for using the bootstrap approach. this statement is true.
A resampling technology named the bootstrap can be used to sample a dataset using replacement to calculate statistics on a group. Estimating summary statistics like the mean or standard deviation may be done using it.
The benefits of bootstrapping include its simplicity in estimating standard errors and confidence intervals as well as its cost-effectiveness in avoiding the need to conduct the operation to get additional groups of sampled data.
Therefore it can be concluded that the said query statement is true.
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