Best and Chebyshev approximations play an important role in approximation
theory. From the viewpoint of measuring approximation error in the maximum
norm, it is evident that best approximations are better than their Chebyshev
counterparts. However, the situation may be reversed if we compare the
approximation quality from the viewpoint of either the rate of pointwise
convergence or the accuracy of spectral differentiation. We show that when the
underlying function has an algebraic singularity, the Chebyshev projection of
degree n converges one power of n faster than its best counterpart at each
point away from the singularity and both converge at the same rate at the
singularity. This gives a complete explanation for the phenomenon that the
accuracy of Chebyshev projections is much better than that of best
approximations except in a small neighborhood of the singularity. Extensions to
superconvergence points and spectral differentiation, Chebyshev interpolants
and other orthogonal projections are also discussed.Comment: 23 page