key term - Lagrange Error Bound

Definition

The Lagrange error bound gives an upper bound on the absolute error between an actual value and its approximation using a Taylor polynomial. It helps determine how close our estimation is to the true value.

Related terms

Absolute Error:

Absolute error measures how far off an estimated value is from its true value without considering direction or sign.

Convergence Interval: The convergence interval specifies which values we can use as inputs for our approximating polynomials while maintaining accuracy within certain bounds.

Degree of the Polynomial: The degree of the polynomial used in a Taylor approximation determines how many terms are included and affects the accuracy of the estimation.