2.4.3 Calibration score and accuracy
The word calibration might have lead you to think of “calibration of measuring instruments”. The calibration of a measuring instrument checks the accuracy of the instrument. The term accuracy is used to refer to the closeness of a measurement to a specific value.
Now, you might wonder if there is, in fact, any difference between accuracy and statistical accuracy (or calibration score)?
The next example will clarify this aspect!
Expert 5 assessments seem more accurate, that is, the medians are closer to the true value.
But does that mean that Expert 5 is also more statistically accurate?
Decision Making Under Uncertainty: Introduction to Structured Expert Judgment by TU Delft OpenCourseWare is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Based on a work at https://online-learning.tudelft.nl/courses/decision-making-under-uncertainty-introduction-to-structured-expert-judgment//.