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ERROR OF ESTIMATION

Statistics Directorate    
Definition:
The difference between an estimated value and the true value of a parameter or, sometimes, of a value to be predicted.

Context:
It is immediately associated with accuracy since accuracy is used to mean "the inverse of the total error, including bias and variance" (Kish L., "Survey Sampling", 1965). The larger the error, the lower the accuracy.

Source Publication:
The International Statistical Institute, “The Oxford Dictionary of Statistical Terms”, edited by Yadolah Dodge, Oxford University Press, 2003.

Cross References:
Accuracy
Estimate

Statistical Theme: Methodological information (metadata)

Glossary Output Segments:
SDMX

Created on Thursday, January 29, 2004

Last updated on Monday, December 19, 2005