Precision Bias
Fleetingconfusing accuracy and precision
believe that greater precision implies greater accuracy (i.e., that simply because a statement is precise, it is also true); the observer or assessor are said to provide false precision
precision fallacy When a system provides very precise result and then is interpreted as if this precision actually meant something.
When the system tells you that project A will last 13.164 days and project B will last 14.002 days, don’t conclude that project B will take longer than project A, just because you are impressed by the three digits result. Most likely the statistical error is much greater than the precision of the result.