Australian Bureau of Statistics
5342.0 - Balance of Payments Statistics, Information Paper on Quality , 1996
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 20/02/1996
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2.1. Accuracy was defined above as the proximity of an estimate to some notional true value. Because the true value cannot be determined, the accuracy of an estimate can not be measured objectively. However, as a practical alternative, the final or fully-revised estimate made by the statistician is taken to be the best approximation of that true value. Because the Australian balance of payments is, in principle, always subject to further revision, the notion of a final estimate is also not strictly appropriate. In these circumstances and for the purposes of this analysis, the assumption is made that the most recent estimate made from relatively final source data is the best available estimate of the true value.
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