Explain the concepts of accuracy and precision in measurement with an example.

(N/A) Accuracy refers to how close a measured value is to the true or actual value of the physical quantity.
Precision refers to the resolution or the limit to which a physical quantity is measured,determined by the least count of the measuring instrument.
Example: Consider a digital clock showing the time as $10:11:12 \text{ AM}$. The least count of this clock is $1 \text{ s}$,so it has higher precision. (Measurements taken with an instrument having a smaller least count are more precise.)
Now,consider an analog clock without a second hand showing the time as $10:13 \text{ AM}$. The least count of this clock is $1 \text{ min}$,so it has lower precision. However,if this analog clock is perfectly synchronized with the standard time,it may be more accurate than the digital clock if the digital clock is running slightly fast or slow.