Statistics Dictionary
To see a definition, select a term from the dropdown text box below. The statistics
dictionary will display the definition, plus links to related web pages.
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Precision
Precision refers to how close estimates from different samples are to each
other. For example, the
standard
error
is a measure of precision. When the standard error is small,
estimates from different samples will be close in value; and vice versa.
Precision is inversely related to standard error. When the standard error is
small, sample estimates are more precise; when the standard error is large,
sample estimates are less precise.
