A measure of the precision of a dataset, reflecting the variability relative to its average, is obtained through a specific calculation. This calculation involves determining the standard deviation of the data set and then dividing it by the mean of the same data set. The resulting value is then multiplied by 100 to express it as a percentage. For example, consider a series of measurements yielding a mean of 100 and a standard deviation of 2. The ratio of these values, multiplied by 100, results in a value of 2%, indicating the dispersion around the average measurement.
This relative measure is crucial in assessing the reliability and consistency of analytical methods, particularly in scientific and engineering fields. A lower percentage generally signifies greater precision and repeatability in the measurements. Historically, its application has enabled researchers to compare the variability across datasets with different scales or units, allowing for a standardized evaluation of experimental or analytical techniques. The ability to quantify and compare variability is a cornerstone of data quality assurance.