I believe so. That's how I would answer it (although I may be naughty and leave it as |625-X|< 62.5 because (a) it's technically an inequality, and (b) I'm lazy and can't be bothered to do arithmetic, and (c) it doesn't *say* you've got to work it out into a particular form).

As for "meaningful" I don't know what that means in this context.