In the context of evaluating the precision of a method, the term used is the "Coefficient of Variation" or CV. Precision is a measure of how reproducible results are when repeated under unchanged conditions. Mathematically, the coefficient of variation is calculated as follows:
This formula quantifies the relative variability of the data in comparison to the mean, giving a percentage that reflects precision. A lower CV indicates higher precision, meaning data points are closely clustered around the mean.
Option
Description
\( \text{Mean} \)
The average value of a data set; not a precision indicator.
\( \text{Assay} \)
A procedure in chemistry to determine the content or quality of a substance; not specifically a measure of precision.
\( \text{CV} \)
The coefficient of variation; a statistical measure for precision.
\( \text{Correlation coefficient} \)
A measure of the strength and direction of a linear relationship between two variables; not used for precision of a method.