Estimating and Calculating

Introduction to Rounding

"Balance of Payments Deficit $9,000,000" "350,000 unemployed" Newspapers, adverts and television often give information in numbers. However, it is unlikely that the Balance of Payments Deficit is exactly$9,000,000 or the number of unemployed is exactly 350,000.

More likely, the Balance of Payments Deficit is more like a number such as $6,895,481 or$7,132,206. From the readers' or viewers' point of view \$7,000,000 is a good approximation. Large numbers are often approximated this way.

This process is called rounding.

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