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Precision is about variability while accuracy (in contrast to precision) is about bias. This tag pertains to measurement or estimation; use [precision-recall] when talking about classifiers.

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Should one account for absolute precision producing variable number of significant digits in...

Alabama's total 2010 population was about 4.8 million. Let's say 4 million age 13+. 15.9 diagnoses per 100,000 then comes to 636 diagnoses. If these are rare, Poisson-distributed events then the stand …
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4 votes

What do confidence intervals say about precision (if anything)?

One thus might argue that frequentist confidence intervals do represent a type of precision of a measurement scheme. … Frequentist confidence intervals do not strictly provide that measure of precision. Bayesian credible regions do. …
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2 votes

Is bias and variance equivalent to accuracy vs precision?

Putting aside the use of these words in the context of classification, the word "precision" is generally taken to represent "a description of random errors, a measure of statistical variability." … Under the ISO usage, accuracy is: a combination of both types of observational error above (random and systematic), so high accuracy requires both high precision and high trueness. …
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