Accuracy is closeness of the measurements to a specific value, while precision is the
closeness of the measurements to each other.
Precision is the variability in different readings taken on a component using a
measuring instrument. We can say if you take ten readings, variability can be given
by standard deviation of these ten readings. Precision is having two parts. One is
repeatability. Repeatability of an instrument is the variability (standard deviation)
of readings taken using same instrument, same part and same operator. Another is
reproducibility. Reproducibility is the variability in readings when same part is
measured by same instrument but by different operators following different
procedures and in different environmental conditions. Together, they form
precision of a measurement system
Fidelity It is defined as the degree to which a measurement system is capable of faithfully
reproducing the changes in input, without any dynamic error.
Lag Every system requires its own time to respond to the changes in input. This time is called
as lag. It is defined as the retardation or delay, in the response of a system to the changes in
the inpu