Precision and Accuracy How would I go about calculating the precision and accuracy of a given number? For example 0.05 has an accuracy of 2 and a precision of 3. 1 has an accuracy of 0 and a precision of 1. Is there an algorithm for calculating this?

You need to know the correct (or reference) value to get the accuracy of a number, which presumably is a measurement of something. So, in your question you've actually just _stated_ the accuracy of those numbers. I'll take your word for it.

Precision is expressed usually as the finest gradation of your measurement. So, the precision for $0.05$ could be $0.01, 0.05,$ or even $0.025 = 1/40$. Again, it depends on how you're measuring.