Answer
$\frac{1}{4}~in$, $\frac{1}{8}~in$
Work Step by Step
a. The last fraction $\frac{3}{4}$ has a precision of $\frac{1}{4}$ in, so that is the overall precision.
b. The greatest possible error is half the precision.
$GPE=\frac{1}{2}\times\frac{1}{4}~in=\frac{1}{8}~in$.