Final answer:
The precision of the measurement is to the nearest thousandth of a pound, the accuracy cannot be determined without a true value for comparison, and the greatest possible error is 0.001 lb.
Step-by-step explanation:
(a) The precision of a measurement refers to the degree of agreement between repeated measurements. In this case, the measurement is given to three decimal places, so the precision is to the nearest thousandth of a pound (0.001 lb).
(b) The accuracy of a measurement refers to how close the measurement is to the true or accepted value. We do not have a true value to compare it to, so we cannot determine the accuracy of this measurement.
(c) The greatest possible error can be calculated by considering the smallest unit of measurement. Since the measurement has three decimal places, the smallest unit is 0.001 lb. Therefore, the greatest possible error is 0.001 lb.
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