Question

explain the meaning of precisions and significant number​

Answer 1

The term significant figures refers to the number of important single digits (0 through 9 inclusive) in the coefficient of an expression in scientific notation . The number of significant figures in an expression indicates the confidence or precision with which an engineer or scientist states a quantity.

Accuracy means getting a result that is close to the real answer. Precision means getting a similar result every time you try. But there is still ambiguity in the usage of terms "Precision" and "Accuracy" in English.

Suppose we want to select among different models (say ARIMA and ANN) for forecasting certain time-series data using some criterion (e.g., RMSE, MAE, AIC, R, etc.). It generally reduces to a comparison of errors between the two models using testing data! So, in such applications:

1) Which criteria is more appropriate to use?

2) Are we talking about a measure of precision or accuracy here?

Answer 2

IS THIS IS THE CORRECT ANSWER

The term significant figures refers to the number of important single digits (0 through 9 inclusive) in the coefficient of an expression in scientific notation . The number of significant figures in an expression indicates the confidence or precision with which an engineer or scientist states a quantity.