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The major consideration with regard to reliability versus validity is that reliability simply relates to how consistent a particular metric is, it does not consider the accuracy of the measure. We will start with a list of definitions, first defining reliability and validity as umbrella terms, and subsequently breaking down the different subtypes below each. This article will explain the differences between these words from the statistical perspective and discuss the types of reliability and validity, as well as how these two constructs interact. Because of this colloquial use, the true meaning of these words has become clouded. Outside of the world of research, 'reliability' and 'validity' are often used interchangeably. 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You know the problem well: You are sharing a household, going to dinner with a group, or going on a trip with friends… Now, you have to keep track of who paid for what, who owes who, and how to settle all your IOUs with as few payments as possible… Some folks will pay with cash, some use credit cards, and when the bill arrives, it’s a huge hassle to split it up. 3How to Share Expenses and Settle Up IOUs.2Download the Shared Expense Calculator for Excel.
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