Good day

I'm busy doing some ping test to my wan from mikrotik and linux.

The mikrotik ping tool will show random ping timeout but the router does not mark it as packet lost?
It does not show up on the linux machine only on the mikrotik ping tool.
Any ideas?

Timeout means the packet was not returned within the time allowed for return.
It can be lost or it can be very late. Looking at your other times it probably is not late so it is just lost.
You can see that at the bottom of the screen too. 2 packets are missing.

We are running time critical web application and constantly getting timeout errors.
How can I escalate the problem?
Someone suggested on another post to change the TTL to 64.
Will try that

Your link or some more upstream link at the ISP may be overloaded.

Run a traceroute to that IP and you will see where the timeout occurs.

after changing ttl to 64 the timeouts did not occur again. I will test
What is a good ttl?
I might be wrong, but does high ttl make network slower?

There is no relation between TTL and performance, and the only reason to set it in "ping" is for some specific diagnostics.
This setting does not have any effect on the normal traffic handling in the router.

ok i understand. I think the application constantly pings remote host and gives error when no reply is received. I have changed ttl and testing now