instruction: From the given text, list me details about parity plot
context: A parity plot is a scatterplot that compares a set of results from a computational model against benchmark data. Each point has coordinates (x, y), where x is a benchmark value and y is the corresponding value from the model.
  
  A line of the equation y = x, representing perfect model performance, is sometimes added as a reference. Where the model successfully reproduces a benchmark, that point will lie on the line.
  
  Parity plots are found in scientific papers and reports, when the author wishes to validate a model in a visual way. However, when the data have a wide range, the large scale makes important discrepancies invisible and the model appears better than it actually is. In that case, a plot of model errors [(y-x) vs. x] is better for evaluating the performance of the model.
response: 1. A parity plot is a scatterplot that contrasts the output of a computer model with reference data.
  2. Each point is identified by its coordinates (x, y), where x represents a benchmark value and y is the matching value from the model.
  3. To serve as a reference, a line drawn from the equation y = x is occasionally included. Where the model accurately reproduces a benchmark, that point will fall on the line.
  4. When an author wants to visually validate a model in a paper or report, parity plots are used. On the other hand, when the data span a wide range, the big scale obscures significant differences, giving the model the appearance of being better than it actually is. In that situation, a model error plot [(y-x) vs. x] is preferable for assessing the model's performance.