Randomized benchmarking is a promising tool for characterizing the noise in
experimental implementations of quantum systems. In this paper, we prove that
the estimates produced by randomized benchmarking (both standard and
interleaved) for arbitrary Markovian noise sources are remarkably precise by
showing that the variance due to sampling random gate sequences is small. We
discuss how to choose experimental parameters, in particular the number and
lengths of random sequences, in order to characterize average gate errors with
rigorous confidence bounds. We also show that randomized benchmarking can be
used to reliably characterize time-dependent Markovian noise (e.g., when noise
is due to a magnetic field with fluctuating strength). Moreover, we identify a
necessary property for time-dependent noise that is violated by some sources of
non-Markovian noise, which provides a test for non-Markovianity.Comment: 31 pages, 1 figure. v2: clarifications, refs added. v3: typos fixed,
results unchange