Subjective Assessment of Estimates

Relative Precision as a Measuring Tool
for Inaccuracy Assessment among Estimates

This site is a part of the JavaScript E-labs learning objects for decision making. Other JavaScript in this series are categorized under different areas of applications in the MENU section on this page.

Professor Hossein Arsham   

The following JavaScript tests the claim that at least one estimate is away from the parameter by more than r times (i.e., a relative precision), where r is a subjective positive number less than one.

Enter your up-to-10 sample estimates, and a subjective relative precision (r) being less than one, then click the "calculate" button. Blank entry boxes are not included in the calculations but zeros are.

In entering your data to move from cell to cell in the data-matrix use the Tab key not arrow or enter keys.

To edit your data, including add/change/delete, you do not have to click on the "clear" button, and re-enter your data all over again. You may simply add a number to any blank cell, change a number to another in the same cell, or delete a number from a cell. After editing, then click the "calculate" button.

For extensive edit or to use the JavaScript for a new set of data, then use the "clear" button.

Estimate (i)
Relative Precision (r)


For Technical Details, Back to:
Statistical Thinking for Decision Making

Kindly email your comments to:
Professor Hossein Arsham


Decision Tools in Economics & Finance

Probabilistic Modeling


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Kindly e-mail me your comments, suggestions, and concerns. Thank you.

Professor Hossein Arsham   

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