The term "precise" refers to the range of measurement to which a value is calculated. The term "accurate" implies that the measurement value is essentially correct, to within some range of error.
However, the terms are often used synonymously, since "precise" has the desired quality of being exact, which in some cases is a separate concept from accuracy.
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Yes it is possible. 21.354 inches is very precise but could be inaccurate.
no only if it is precise it is accurate
precise means accurate
What determines how precise a measurement is
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.