2.4.3 Calibration score and accuracy

Course subject(s) Module 2. Calibration and Information score

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.

“Measurement” by William A. Clark is licensed under CC BY-NC-SA 2.0

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?

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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//.
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