An oven that runs hotter or cooler than the dial usually has a drifted sensor, a calibration offset, a weak element, a worn door seal or an uneven airflow problem. The sensor is the most common cause, since the control trusts it to say how hot the oven is. A bad reading means a wrong temperature even when everything else works.
Central Minnesota Appliance Repair sees this across Minneapolis, St. Paul and the metro on both gas and electric ovens. The first step is always to measure the real temperature with an oven thermometer, because baking results alone can mislead you. Cakes that sink, roasts that finish late or cookies that burn on the bottom can have other causes.