You can measure a length of something to an exact measurement, or, for example, you could say that two metres 5 centimetres is near enough. How important is how important to be exact truly is.
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This value is variable and different for each type of measurement. The error can be absolute or relative. A measurement without any error doesn't exist.
This is the accuracy of a value.
The term is accuracy
The term is accuracy
Accuracy :D