I did a spatial join with the average point and the 50 observation points to find the distance of each point to the average point. I then found the distance for 50%, 68%, and 95% of the points. I also then determined the average elevation and found the absolute difference of the average point to the observed points. Below are the results, along with a map showing the average point and the observed points.
The reference point of the actual location was added to the map. To see how accurate the average point was, I measured the distance from the reference point to the average point. I did the same for elevation as well. This was done to determine how accurate the average point is. The average point was within 3 meters of the reference point and the elevation was within 6 meters.
The reference point and the average point differ by quite a bit. The longitude and latitude is off by 3.8 meters from the reference point to the average. The horizontal precision was 4.4 so it was greater than the true difference. The elevation is off by 6 meters while the precision showed 3 meters. Even though 4 meters is not a lot, depending on the need of knowing this location, it can be huge. GPS units can only be so accurate and the unit puts the point fairly close to the true position.
The horizontal accuracy was 3.8 meters. This is better than the horizontal precision. The vertical accuracy is 6 meters which is worse than the vertical precision of 3 meters. There was no evidence of bias in the results.