Webster's English Dictionary

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precision

1. pre.ci.sion \pri-'sizh-*n\ \-'sizh-(*-)n*st\ n : the quality or state of 
   being precise : EXACTNESS; specif  : the degree of refinement with which an 
   operation is performed or a measurement stated - pre.ci.sion.ist n
2. precision aj 1: adapted for extremely accurate measurement or operation  
   2: held to low tolerance in manufacture  3: marked by precision of 
   execution