error correction

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error correction

[′er·ər kə‚rek·shən]
Any system for reducing errors in an incoming message, such as sending redundant signals as a check.
(computer science)
Computer device for automatically locating and correcting a machine error of dropping a bit or picking up an extraneous bit, without stopping the machine or having it go to a programmed recovery routine.
Correction of time errors in interconnected alternating-current power systems resulting from deviations from normal frequency, in order to make all areas synchronous.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.

error checking

Testing for accurate transmission of data over a communications network or internally within the computer system. See error messages, parity checking, CRC and validate.

validity checking

Routines in a data entry program that test the input for correct and reasonable conditions, such as account numbers falling within a range, numeric data being all digits, dates having a valid month, day and year, etc. Checking the spelling of proper names, if possible, can also be part of validity checking. See validate for a comparison of "validate" and "verify."

Errors Can Be Critical

It may seem like a dull part of the IT world, but data entry validation can be a very critical issue when there is insufficient validity checking of the input. In late 2001, a Japanese stockbroker erroneously placed a sell order for 610,000 shares of stock at 16 yen, when it should have been for 16 shares at 610,000 yen. Even though the error was caught two minutes after the order was placed, the broker's liability was estimated to be up to USD $100 million.
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References in periodicals archive ?
(2) Borenstein, Cameron, and Gilbert estimate a set of error-correction models to examine asymmetric price transmission at differing stages of petroleum production and distribution.
The methodology used for this empirical study is cointegration and error-correction modeling to find long run and short run relationships in a money demand model.
That said, the settlement allows ING to continue to retain erroneous gains as recordkeeping compensation, subject to the condition that the company's error-correction policy be disclosed and agreed to by its plans.
Deviations appear at times quite persistent, suggesting the possibility of nonlinear error-correction adjustment, discussed in the following text.
First, inclusion of an error-correction term from a multivariate cointegration model for each period makes it possible to compare the extent to which past market errors in output, analogous to inventory or forecasting mistakes, are corrected in a manner consistent with maintaining a long-run equilibrium.
The threshold vector error-correction model (TVECM) allows thresholds within the sample covering the period 1990 to 2010.
Granger (1987) Co-integration and Error-correction Representation, Estimation, and Testing.
This agreement was executed with biotechnology company Novici Biotech LLC, which developed ErrASE, a commercially available DNA error-correction kit, to increase accuracy and accelerate the pace of research in the field of synthetic biology.
11 October 2010 - US life science solutions provider Life Technologies Corp (NASDAQ: LIFE) said today it has signed an exclusive licence agreement for the DNA error-correction kit ErrASE of US-based Novici Biotech LLC.
More precisely, the error-correction specification used indicates that in the long run the level of the synthetic indicator of risk premia is well explained by the cyclical position of the world economy, global real short-term interest rates (or alternatively a measure of global liquidity levels), and levels of global corporate default rates.
EPREP is a lower-priced solution than engraved plates and gives the ability to print labels quickly, allowing immediate error-correction and negating the need to keep a stock of pre-engraved plates onsite, claims Brady.
Using a multivariate cointegration framework and vector error-correction modeling I find that the Indian market is influenced by the US, UK and Japan and that this influence has persisted following the September 11, 2001 terrorist attacks on the US.