Approximation and Error

noun

• An approximate calculation of quantity or degree or worth.
  • usage: "an estimate of what it would cost"; "a rough idea how long it would take"
  • synonyms: estimate, estimation, idea
• The quality of coming near to identity (especially close in quantity. )
• An imprecise or incomplete account.
  • usage: "newspapers gave only an approximation of the actual events"
• The act of bringing near or bringing together especially the cut edges of tissue.
  • synonyms: bringing close together

• (n.) A continual approach or coming nearer to a result; as, to solve an equation by approximation.
• (n.) The act of approximating; a drawing, advancing or being near; approach; also, the result of approximating.
• (n.) An approach to a correct estimate, calculation or conception or to a given quantity, quality, etc.
• (n.) A value that is nearly but not exactly correct.

noun

• A wrong action attributable to bad judgment or ignorance or inattention.
  • usage: "he made a bad mistake"; "she was quick to point out my errors"; "I could understand his English in spite of his grammatical faults"
  • synonyms: mistake, fault
• Inadvertent incorrectness.
  • synonyms: erroneousness
• A misconception resulting from incorrect information.
  • synonyms: erroneous belief
• Baseball) a failure of a defensive player to make an out when normal play would have sufficed.
  • synonyms: misplay
• Departure from what is ethically acceptable.
  • synonyms: wrongdoing
• Computer science. ( the occurrence of an incorrect result produced by a computer)
  • synonyms: computer error
• Part of a statement that is not correct.
  • usage: "the book was full of errors"
  • synonyms: mistake

• (n.) A fault of a player of the side in the field which results in failure to put out a player on the other side or gives him an unearned base.
• (n.) The difference between the observed value of a quantity and that which is taken or computed to be the true value; -- sometimes called residual error.
• (n.) A wandering or deviation from the right course or standard; irregularity; mistake; inaccuracy; something made wrong or left wrong; as, an error in writing or in printing; a clerical error.
• (n.) A wandering; a roving or irregular course.
• (n.) A mistake in the proceedings of a court of record in matters of law or of fact.
• (n.) A departing or deviation from the truth; falsity; false notion; wrong opinion; mistake; misapprehension.
• (n.) A moral offense; violation of duty; a sin or transgression; iniquity; fault.
• (n.) The difference between an observed value and the true value of a quantity.
• (n.) The difference between the approximate result and the true result; -- used particularly in the rule of double position.

Error is a mistake in terms of quantity, type of order, side of market (purchase or sale), security, or other condition of a trade.