Definition of Measurement error

Measurement error

errors in measuring an explanatory variable in a regression that leads to biases in
estimated parameters.

Benchmark error

Use of an inappropriate proxy for the true market portfolio.

Net errors and omissions

In balance of payments accounting, net errors and omissions record the statistical
discrepancies that arise in gathering balance of payments data.

Performance measurement

The calculation of the return realized by a money manager over some time interval.

Standard error

In statistics, a measure of the possible error in an estimate.

Tracking error

In an indexing strategy, the difference between the performance of the benchmark and the
replicating portfolio.

physical measurement allocation

a method of allocating a joint cost to products that uses a common physical characteristic as the proration base

standard error of the estimate

a measure of dispersion that reflects the average difference between actual observations and expected results provided by a regression line

Accounting Errors

Unintentional mistakes in financial statements. Accounted for by restating
the prior-year financial statements that are in error.

Errors and Omissions Insurance

Insurance coverage purchased by the agent/broker which provides protection against loss incurred by a client because of some negligent act, error, oversight, or omission by the agent/broker.

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