What does the term "Precision" refer to in measurement?

Precision in measurement refers to the consistency or repeatability of measurement results. It indicates the degree to which repeated measurements under unchanged conditions yield the same results. When measurements are precise, they are grouped closely together, showing little variation regardless of how close they are to the actual or true value; this is distinct from accuracy, which describes how close a measurement is to the true value.

Thus, the concept of exactness is fundamental to precision, as it reflects a reliable method of obtaining similar measurements whenever the same quantity is measured. It's important to note that precision does not imply correctness; rather, it focuses on the stability of results across multiple measurements.