Accuracy versus Precision?

YES – There is a Difference

[By staff reporters]

ACCURACY Defined

The degree to which a measurement, or an estimate based on measurements, represents the true value of the attribute being measured. In the laboratory, accuracy of a test is determined when possible by comparing results from the test in question with results generated using reference standards or an established reference method.

PRECISION Defined

Precision is a description of random errors, a measure of statistical variability. It refers to the closeness of two or more measurements to each other.

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ACCUAACY versus PRECISION

Both accuracy and precision reflect how close a measurement is to an actual value, but accuracy reflects how close a measurement is to a known or accepted value, while precision reflects how reproducible measurements are, even if they are far from the accepted value.

MORE: https://www.thoughtco.com/difference-between-accuracy-and-precision-609328

Assessment: Your thoughts are appreciated

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PODCAST: Google Starts a Health Insurance Stop-Loss Company

By Eric Bricker MD

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INSURANCE: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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Conclusion

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