Most of our knowledge is inexact, and known by us to be so. An example of such known inexactness will be described in some detail. The description seems to entail a contradiction. However, the paradoxical reasoning rests on an assumption. It will be suggested that the description is correct and this assumption false. Its failure will be explained by means of a picture of inexact knowledge in which the notion of a margin for error is central. This picture suggests diagnoses (...) of other paradoxical arguments: Surprise Examinations, backwards inductions about Iterated Prisoner's Dilemma, and the Heap. (shrink)