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This lecture covers the characteristics of a measurement system, including intrinsic and extrinsic noise, differential amplifiers for noise reduction, reduction of common mode voltage, and other circuits for noise reduction. It explains static characteristics like linearity, hysteresis, and repeatability, with examples of error calculations for pressure sensors. The dynamic transfer characteristics are discussed through ordinary differential equations, zero-order, first-order, and second-order systems. The general model for a measurement system is presented, along with examples of modifying and interfering values. Noise characteristics such as signal-to-noise ratio and noise bandwidth are also explained.