Random error

Updated: Aug 20, 2021

A discrepancy between the observed value of a variable and its true value that is due to chance or an imprecise measurement. See also error term.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.