Slide 23 of 25
Notes:
- Suppose wish to round to two decimal places. In this case the unit of measurement is one-hundredth, or .01, and one-half a measurement unit is .01/2 or .005. Thus, according to this rule, 5.338 is rounded to 5.34 because .008 is greater than .005. The quantity 5.335001 is also rounded to 5.34 because .005001 is greater than .005.
- 2.3333333 is rounded to 2.33 as is 2.3348.
- 10.345 is rounded to 10.34 because the 4 in the hundredths place is an even number, and 10.335 is rounded to 10.34 because the 3 in the hundredths place is an odd number.
- Purpose of this rule is to avoid bias in rounding up or down across large sets of numbers; with the rule, approximately half the time you will round up and half the time you will round down.
