In interval arithmetic, this question is answered differently than you may expect. In particular, the accuracy of every formula can be rigorously proven directly by evaluating increasingly small intervals up to the accuracy limit of the system.
Here is an example of how it works:
Given $x=[a,b]$ as the interval being evaluated with $a\lt b$, evaluate the following:
$$f_1(x)=(x+1)^2$$
$$f_2(x)=(x+2)x+1$$
$$f_3(x)=x^2+2x+1$$
$$f_1([a,b])=([a,b]+1)^2=[a+1,b+1]^2=[\min((a+1)^2,(b+1)^2),\max((a+1)^2,(b+1)^2)]$$
$$f_2([a,b])=([a,b]+2)[a,b]+1=[a+2,b+2][a,b]+1=[\min(a(a+2),a(b+2),b(a+2),b(b+2))+1,\max(a(a+2),a(b+2),b(a+2),b(b+2))+1]$$
$$f_3([a,b])=[a,b]^2+2[a,b]+1=[\min(a^2,b^2),\max(a^2,b^2)]+[2a,2b]+1=[\min(a^2,b^2)+2a+1,\max(a^2,b^2)+2b+1]$$
Given that we know only that $a\lt b$, $f_1$ and $f_3$ demonstrate the greatest similarity, but it should be obvious that if $|a|\gt|b|$ then $f_1\ne f_3$. If we say that a measure of the accuracy is the ratio of the length of the input interval compared to the length of the output interval, then $f_1$ has greater accuracy than $f_3$ overall.
This isn't the best possible demonstration of how interval arithmetic works, but it should show how intervals can be used in evaluating functions. In particular, it is clear that the accuracy is the opposite of that demonstrated in other answers here.