I was recently dismayed to learn that many people assume that the term 'unbiased' means 'physically correct', and 'biased' - somehow physically inaccurate; while in fact, the relationship between the two terms is similar to the one between 'precision' and 'accuracy' as used in a scientific context. Unbiased calculations have great precision, but that does not imply anything about their accuracy (how close they are to the actual correct results). The reverse is also true - biased calculations can be quite correct (e.g. very close to the actual result), but typically somewhat imprecise.
There's some more visual information here:
http://honolulu.hawaii.edu/distance/...5/accprec.html
Best regards,
Vlado
There's some more visual information here:
http://honolulu.hawaii.edu/distance/...5/accprec.html
Best regards,
Vlado
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