Precision:
Precision is the degree of accuracy with which a parameter is estimated by an estimator. Precision is usually measured by the standard deviation of the estimator and is known as the standard error. For example, the sample mean is used to estimate the population mean and the precision of this estimator improves as sample size increases.
Planning on taking an introductory statistics course, but not sure if you need to start at the beginning? Review the course description for each of our introductory statistics courses and estimate which best matches your level, then take the self test for that course. If you get all or almost all the questions correct, move on and take the next test.
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