Error Bound

Definition

In the context of approximation, the error bound represents the maximum amount by which an approximation may deviate from the exact value. It provides an upper limit for how accurate our approximation can be.

Related terms

Absolute Error:

The difference between the approximate value and the exact value.

Relative Error: The ratio between absolute error and exact value, often expressed as a percentage.

Taylor Series Expansion: A method used to approximate functions using polynomial expressions.