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This topic was discussed a couple years ago about the SR300’s predecessor the F200. At that time it was thought the accuracy range was around +-5%
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Hope this information helps to clarify your question.
Thank You, but I am looking for suggestions to validate this with my camera. Is there any standard procedure for it?
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The standard way to test accuracy is to point the camera at a flat white wall where the distance from the wall to the camera is known. Compare the reported depth from the camera with the known depth. Repeat this with objects similar to his target use case. Note that the SR300 camera is for close range use cases, .2m - 1.2m.