Definitions for on the nose
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Princeton's WordNet
on the nose, on the button(adverb)
being precise with regard to a prescribed or specified criterion
"his guess was on the nose"; "the prediction for snow was right on the button"
precisely, exactly, on the nose, on the dot, on the button(adverb)
just as it should be
"`Precisely, my lord,' he said"
Wiktionary
on the nose(Adjective)
Exact; precise; appropriate.
on the nose(Adjective)
Smelly, malodorous; often used figuratively.
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"on the nose." Definitions.net. STANDS4 LLC, 2013. Web. 19 Jun 2013. <http://www.definitions.net/definition/on the nose>.