ELI5: Explain Like I'm 5

Precision (statistics)

Precision is a way of measuring how accurate something is. It refers to how close a measurement or data set is to being exact. Think of it like shooting with a bow and arrow. If your target is a small circle, the closer your arrows hit the centre of the circle, the more precise your aim is! In statistics, precision can help us tell how close our results are to the truth.