Can a published well-received research paper contain misprints? I have been reading a research paper for my university course. The paper is the PhD thesis of a student of Berkeley mentored by a reputed engineer. I strongly feel that an expression mentioned in the thesis is wrong, although it has been mentioned only once in paper and his analytical and simulation results agree everywhere, I doubt my speculation

My doubt is whether there is a chance that the equation may contain a typing error and what I think is correct and my expression has been used in calculations or since this is a highly cited paper , there cannot be any typing error and my doubt is futile. I mean have such typos ever crept earlier in such reputed publications ?
Yes, and there are a lot of reasons for errors. There is also a large machinery for keeping errors out, but they fail regularly enough. Sometimes the error is a misunderstanding by a copy editor. In printed work, even by the printer's employees. 

But the biggest issue is probably how hard it is for people to proof read their own material. I struggle with this constantly in my own writing. Once you put a mistake into a paper, you are likely to read over it when proof reading. You tend to "see" what you think should be there, not what actually is there. One of the purposes of intelligent reviewers is to catch such things. But we are all human and the mistakes we make we often repeat. 

If the "error" isn't thought of as serious to understanding by a reader, they may just ignore it. Or even, might "see" what they expect to see in such things as formulae. Especially if they are commonly used. 

There was once a version of the Bible printed in which, among the other commandments it was stated: Thou shalt commit adultery. See: https://en.wikipedia.org/wiki/Wicked_Bible