Measurement error

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Measurement error

Errors in measuring an explanatory variable in a regression, which leads to biases in estimated parameters.

Measurement Error

The difference between the value of some quantity and the value obtained by measuring it. It is nearly impossible to attain accurate measurements all the time, especially when one uses a single means of calculation. For this reason, when measuring the value of a company or asset, many analysts will check and double-check their work, and perhaps calculate the value using a different method, in order to ensure accuracy. See also: Audit, Due diligence.
References in periodicals archive ?
To the extent that the research supports PLT, the presence of observational error is likely to make its benefits greater, not smaller.
In Germany in the 1850s physiologists such as Karl Vierordt rejected physicist Gustav Radicke's work on medical observational error and deviation.
The FDA's recent expanded approval of CAD technology for use in symptomatic patients will help to decrease the risk of observational error in the interpretation of these perceptually complex mammograms and increase the odds of detecting subtle breast cancers at the earliest possible opportunity," said Deborah Kass, M.
Other explanations have included natural climate variability and observational errors.
I do not think that rationality of expectations poses a problem to setting out the model in this way because serially uncorrelated shocks, like observational errors, typically have rather little impact on jumping variables.
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