Precision and confidence are interrelated and with a given sample size, increasing one will increase the other.

Question

Quizplus · Accepted Answer

Precision refers to the closeness of two or more measurements to each other, while confidence relates to the probability that a value will fall within a certain range. Increasing precision does not necessarily increase confidence and vice versa, as they are influenced by different factors such as sample size and variability.

Precision and Confidence Are Interrelated and with a Given Sample