From the given text, list me details about parity plot
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.