The formula to calculate the Bias Percentage (B) is:
\[ B = \frac{(M - A)}{A} \times 100 \]
Where:
Bias percentage is a measure of the difference between an actual value and a measured value, expressed as a percentage of the actual value. It is commonly used in various fields such as statistics, engineering, and science to assess the accuracy and reliability of measurements and predictions. A positive bias percentage indicates that the measured value is higher than the actual value, while a negative bias percentage indicates that the measured value is lower than the actual value.
Let's assume the following values:
Using the formula to calculate the Bias Percentage (B):
\[ B = \frac{(110 - 100)}{100} \times 100 = 10 \]
The Bias Percentage (B) is 10%.
