Are there best practices recommended for avoiding precision errors when working with numerical data in PHP?

When working with numerical data in PHP, it's important to be aware of precision errors that can occur due to the way floating-point numbers are represented in computers. To avoid these errors, you can use PHP's built-in functions like number_format() or round() to control the precision of your calculations.

// Example of using number_format() to control precision
$number = 10.555555;
$rounded_number = number_format($number, 2); // rounds to 2 decimal places
echo $rounded_number;