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 ?
When the medical errors of the health care professionals were evaluated, there were similarities between physicians and nurses; the most frequent medical error experienced by the physicians was the administration of incorrect medication 45(32.
The basic criteria for the news selection was that the news be directly related to the subject of medical error and that they were made within the borders of Turkey.
Although Rescher sets his attention on the concept of error, the points he emphasizes and the implications he draws are fairly standard themes in epistemology.
Although it is obvious that the nurses in this study were vigilant and careful, thus preventing a large number of errors from reaching the patients, error rates were still high.
Error training: Replication and the function of exploratory behavior.
Pre-1970 revisions: In contending that the accountant committed merely a mathematical or posting error, the taxpayers relied on cases decided before important 1970 revisions to Regs.
As the controller begins to walk through the company's internal control over financial reporting, he or she will review each control to see whether they would have found the error and thus have been the required mitigating control.
These incidents had very different causes, from deliberate criminal misconduct to simple human error.
Illegible order writing by physicians can be a frequent contributing factor to medication error.
A spreadsheet error at a major financial institution was deemed a significant factor in a $1 billion financial statement error in the classification of securities.
The prevalence and nature of errors and near errors reported by hospital staff nurses.
The sequential step diagonal measurement method differs from the body diagonal displacement measurement in that each axis moves separately in sequence and the diagonal positioning error is collected after each separate movement of the X-axis, Y-axis, and then Z-axis.