Numerical errors refer to mistakes that occur in calculations or data processing, often due to rounding, truncation, or approximation. These errors can arise in various fields, including mathematics, engineering, and computer science, where precise numerical values are crucial for accurate results. Common types of numerical errors include absolute errors, which measure the difference between the exact value and the approximate value, and relative errors, which express this difference as a fraction of the exact value. Understanding and managing these errors is essential for ensuring the reliability of numerical computations and analyses in applications like scientific research and financial modeling.