The smaller the value of the least increment, the more precise a number is.
Length measured to the nearest 1/8 inch will be more precisely specified than length measured to the nearest 1/4 inch.
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In general, <em>precision</em> has little to do with <em>accuracy</em>—how close the measured value is to the actual value. A measurement can be very precise, but just plain wrong. (Many electronic instruments have resolution (precision) that exceeds their accuracy. That is, one or two (or more) of the least-significant displayed digits may be in error.)
