Reliability of estimates

{
  "id": "MLC-T-ECS-001616",
  "term": "Reliability of estimates",
  "field": "Economic statistics",
  "definition": "Extent to which an experiment, test, or measuring procedure yields the same results on repeated trials.\n\nNote: When a sample rather than the entire population is surveyed, there is a chance that the sample estimates may differ from the “true” population values they represent. CPS data are subject to both sampling and nonsampling error. The exact difference, or sampling error, varies with the particular sample selected, and this variability is measured by the standard error of the estimate. There is about a 90-percent chance, or level of confidence, that an estimate based on a sample will differ by no more than 1.6 standard errors from the true population value because of sampling error. BLS analyses are generally conducted at the 90-percent level of confidence. More information about the reliability of data from the CPS can be found at Labor Force Statistics from the Current Population Survey, Reliability of estimates from the CPS.",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/reliability-of-estimates/"
}