Is there an algebraic function near every smooth function?

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For every real number, you can create rational numbers that are arbitrarily close to it. As a result, rational numbers are a sufficient field for every real-world problem involving real numbers, and as a result of that computers are useful for scientific purposes.

Is something similar true of algebraic functions? When I conduct an experiment I can constrain the values of a function to an arbitrary but finite precision. Will I ever be able to rule out the theory that the function I am measuring is algebraic, or are there algebraic functions arbitrarily close to every other function? (I'm excluding, of course, pathological functions like the ones that are continuous nowhere.)

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If "close" means uniformly close on the whole real line, then no. For example, any algebraic function $f$ with $|f(x) - \sin(x)| < 1$ for all real $x$ would have infinitely many real zeros (by the Intermediate Value Theorem), but there are no such algebraic functions except $0$.