1. 14. Risk
Measurement Uncertainty
 Precision – how small is the variance of the estimates
 Accuracy – how close is the estimate to the actual
values
 Bias – what impacts on precision and accuracy come
from the human judgments (or misjudgments)
 Accuracy
 Precision
 Accuracy
 Precision
 Accuracy
 Precision
 Accuracy
 Precision
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