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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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Are there parameters where a biased estimator is considered "better" than the unbiased estim...

Yes there are plenty of cases; you're beating around the bush that is the topic of Bias-Variance tradeoff (in particular, the graphic to the right is a good visualization). As for a mathematical exa …
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