Answer
$ \frac{1}{8}\ in, \frac{1}{16} \ in, 0.00526; 0.53\% $
Work Step by Step
For the given measurement, we have
The precision is $\frac{1}{8}~in$
The greatest possible error is one-half the precision
$\frac{1}{2}\cdot \frac{1}{8} \ in= \frac{1}{16} \ in$
The relative error is
$relative~error=\dfrac{greatest~possible~error}{measurement}$
$\frac{ \frac{1}{16} \ in}{11\frac{7}{8} \ in}=0.00526$
The percent of error is $0.53\%$
