Precision

The property of the set of measurements of being very reproducible or of an estimate of having small random error of estimation. Precision is to be contrasted with accuracy, which is the property of being close to some target or true value. Precision is a quality associated with a class of measurements and refers to the way in which repeated observations conform to themselves; and in a somewhat narrower sense refers to the dispersion of the observations, or some measure of it, whether or not the mean value around which the dispersion is measured approximates the "true" value.  OECD Source: The International Statistical Institute, "The Oxford Dictionary of Statistical Terms", edited by Yadolah Dodge, Oxford University Press, 2003.