Accuracy and Precision
Subject: Business Statistics | Topics:

Accuracy and Precision are both ways to evaluate a set of measurements. They are dissimilar because they are looking at different aspects of the measurements. In the fields of science, engineering and statistics, the accuracy of a measurement system is the degree of closeness of measurements of a quantity to that quantity’s true value.  This article actually focus on statistics to understand “Accuracy and Precision”. The precision of a measurement system, related to reproducibility and repeatability, is the degree to which repeated measurements under unchanged conditions show the same results.

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