In this paper, we improve upon our previous work[24,22] and establish convergence bounds on the objective function values of approximate proximal-gradient descent (AxPGD), approximate accelerated proximal-gradient descent (AxAPGD) and approximate proximal ADMM (AxWLM-ADMM) schemes. We consider approximation errors that manifest rare extreme events and we propagate their effects through iterations. We establish probabilistic asymptotic and non-asymptotic convergence bounds as functions of the range (upper/lower bounds) and variance of approximation errors. We use the derived bound to assess AxPGD in a sparse model predictive control of a spacecraft system and compare its accuracy with previously derived bounds.
