The term precision relates to
A) The difference between confidence level and estimated error.
B) The difference between confidence level and tolerable error.
C) The difference between expected and tolerable deviation rate.
D) The difference between expected and sample deviation rate.

Question

Quizplus · Accepted Answer

Precision in the context of auditing or statistical sampling refers to the range within which the true value of a population parameter is expected to lie, often expressed as the difference between the expected and tolerable deviation rates.

The Term Precision Relates to