No, you cannot combine it with another attack action.
Ranged Precision is a standard action, not a special attack (like Grapple, for example, which can be done as an attack and is not a standard action by itself).
So you could either attack, or use Ranged Precision (which includes one attack), or use Multishot, or cast a spell, etc.
Furthermore Ranged Precision cannot be used as part of a full-attack action for the very same reason (it's a standard action, not a special attack), which makes it kinda pointless, really.
Bye
Thanee