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In statistics, efficiency is a measure of quality of an estimator, of an experimental design, [1] or of a hypothesis testing procedure. [2] Essentially, a more efficient estimator needs fewer input data or observations than a less efficient one to achieve the Cramér–Rao bound .
Algorithmic efficiency can be thought of as analogous to engineering productivity for a repeating or continuous process. For maximum efficiency it is desirable to minimize resource usage. However, different resources such as time and space complexity cannot be compared directly, so which of two algorithms is considered to be more efficient ...
Efficiency is the often measurable ability to avoid making mistakes or wasting materials, energy, efforts, money, and time while performing a task.In a more general sense, it is the ability to do things well, successfully, and without waste.
Computer performance metrics (things to measure) include availability, response time, channel capacity, latency, completion time, service time, bandwidth, throughput, relative efficiency, scalability, performance per watt, compression ratio, instruction path length and speed up. CPU benchmarks are available. [2]
PER strives to measure a player's per-minute performance, while adjusting for pace. A league-average PER is always 15.00, which permits comparisons of player performance across seasons. PER takes into account positive results, including field goals, free throws, 3-pointers, assists, rebounds, blocks and steals and negative results, including ...
A realistic indication of energy efficiency over an entire year can be achieved by using seasonal COP or seasonal coefficient of performance (SCOP) for heat. Seasonal energy efficiency ratio (SEER) is mostly used for air conditioning. SCOP is a new methodology which gives a better indication of expected real-life performance of heat pump ...
Improving operational efficiency begins with measuring it. Since operational efficiency is about the output to input ratio, it must be measured on both the input and output side. Quite often, company management is measuring primarily on the input side, e.g., the unit production cost or the man hours required to produce one unit.
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: [1] Allocative or Pareto efficiency : any changes made to assist one person would harm another.