Yes. Take, for example, the value of Pi. Pi is defined as the decimal equivalent of 22/7. 22/7 done manually is 3.142857 - which is accurate for most calculations. However - calculated by a computer, a more precise value can be obtained... The calculator built-in to Windowws produces the result 3.1415926535897932384626433832795
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Yes it is possible. 21.354 inches is very precise but could be inaccurate.
Certainly. Precision and accuracy do not mean quite the same thing. All measuring tools need to be recalibrated from time to time against a standard. For instance you can get a very precise reading from a micrometer or vernier gage but if it has not been correctly calibrated the reading will not be accurate.
No. A broken clock gives a very precise time, but most of the time it is wrong.
If you take a measurement multiple times, and get similar values each time, then the data is said to be very precise. If this group of data is very close to the expected value, then the data is said to be accurate. However, a set of data may be precise without being accurate if the measured values are all similar to one another, but not close to the expected value.
Accurate means how close the measured value is to the real, actual value. Precise means how reproducible the measurement is. So, if the real value is 1.00, and you measure it to be 0.785, and every time you measure it, it comes out the same (0.785), then the measurement is VERY precise, but not very accurate.