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, precision has little to do with accuracy—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.)
11 pizzas 8 slices each = 11*8 =88 slices
88/42 = 2.0952
so each person got 2 slices of pizza
42 * 2 =84
88-84 = 4 slices were left over