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A digit's value is the digit multiplied by the value of its place. Place values are the number of the base raised to the nth power, where n is the number of other digits between a given digit and the radix point.
This variant of the round-to-nearest method is also called convergent rounding, statistician's rounding, Dutch rounding, Gaussian rounding, odd–even rounding, [6] or bankers' rounding. [ 7 ] This is the default rounding mode used in IEEE 754 operations for results in binary floating-point formats.
By this definition, ε equals the value of the unit in the last place relative to 1, i.e. () (where b is the base of the floating point system and p is the precision) and the unit roundoff is u = ε / 2, assuming round-to-nearest mode, and u = ε, assuming round-by-chop.
When small-value coins are withdrawn, an alternative to the implementation of cash rounding is instead to increase the minimum unit of account to the smallest remaining currency unit and to round all prices and bank accounts to this value. Whereas cash rounding is an ongoing process, this alternative is a one-time conversion.
However, this multiplication is essentially adding 1.234 to itself 9 times such as 1.234 + 1.234 + … + 1.234 so the rounding guideline for addition and subtraction described below is more proper rounding approach. [13] As a result, the final answer is 1.234 + 1.234 + … + 1.234 = 11.10 6 = 11.106 (one significant digit increase).
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