How to compensate for measurement error?

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I have some observed values with measurement errors . I know the error distribution is gaussian with zeros mean and variance $\sigma^2$. What are the ways to compensate for this error?

Any help is appreciated.

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You don't compensate for the error, you try to understand its effects on your measurement. If you measure the same quantity a number of times, each time getting a slightly different value due to measurement error, the best estimate of the true value is the average. You should know that variances add, so the error on the estimate of the mean decreases with the square root of the number of measurements. If you use the mean to compute some other quantity, you need to understand how the error propagates.