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I agree with the post before that it's the ideas that are important and being able to identify in a situation whether it's precise and/or accurate. Also, I believe the idea you vaguely remember is of error bars (which is shown with a plus or minus of the standard error) and standard error itself. Both of these are used to measure the precision of a group of data, but I don't believe it will be necessary to know how to calculate unless Dr. Lavelle discusses it in a later lecture.
I think the equation you're referring to is the one where you subtract your lowest measured value from your highest value to record as precision, but I don't think we will be doing this with actual numerical values. I think it's more for us the understand the difference between the two and the individual importance of both.
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