What does precision mean here, mathematically? Precision as in precision/recall doesn't seem to work, as precision in that context means TP / (TP + FP), and going from 1/100 to 1/1000 would mean worse precision.
Does it mean something like floating point precision, where increasing bits can increase information represented, i.e. 2 bits represent max of 11=3, 3 bits represent maximum of 111=7 and so on? I can't quite this to work...