There is no such unit of distance as a thousand. Therefore, the two units are incompatible.
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An eighth of and inch is half of a quarter of an inch!
There are four quarter inches in one inch. This is because an inch can be divided into four equal parts, each representing a quarter of an inch. Therefore, when measuring in inches, each inch can be further subdivided into four quarter-inch segments.
Obviously 4.
830 thousandths of an inch
4 (quarter = fourth of, as in 1/4)