Here's a video by mathantics that explains rounding. It goes over how you round, precision, and why it can be useful.
Summary
What Is Rounding?
Numbers are usually used to talk about amounts of something. How many days left until your birthday. How much money you need to buy a Playstation. How many students went to your school.
When answering any of these, you might round. You would probably say, "About 2,000 kids went to my school." This is not an exact number, but an estimate. The actual number might be 1,863.
Rounding is a way to give a close estimate of a number, but not its exact value.
Precision
Let's look again at the number 1,863. We can round this in different ways.
1,8601,9002,000
Each of these is a valid way to round our number, but as we move down, we're getting less precise. The rounded number is farther away from our original. We could also plot all the numbers on the number line. We would see 1,900 is further from 1,863 then 1,860 is. Also, 2,000 is further from 1,863 than 1,900, and so on.
Number Line Representation
We can get a better representation of rounding by looking at a number line.
If we round to the nearest ten, we have to decide whether it goes up to 1870 or down to 1860.
When deciding if we round up or down, we round in the direction that is the shortest. In other words, since the arrow is shortest when rounding down to 1860, that's the direction we round.
We can do this for the nearest hundred. This time, rounding up is shorter.
Finally, we can do this for the nearest thousand.
Why?
So why would we want to make a number less precise? For starters, rounding can help make calculations easier. Adding 300 and 500 would be easier.
300+500
Adding 312 and 498 would be harder to do.
312+498
Also, you don't always need to be precise. If you weigh your pet, you don't need to know they weigh 55.83297 kg; it's enough to know they weigh 55.8 kg. Really, who cares about more than one place past the decimal point?
The Procedure
The first step in rounding a number is to locate the place value that the question wants it rounded to.
So, if we want to round 8,246,315 to the nearest thousand, we want to locate the digit in the thousand place.
8,246,315
Next, we look at the digit to the right of our rounding place. In our example, this is 3.
8,246,315
If this digit is 5 or greater, we round up. If it's less than 5 we round down. Since 3 is less than 5, we round down.
- Rounding down means we keep the rounding digit the same and make every digit to the right of it, zero.
- Round up means we increase the rounding digit by 1 and make every digit to the right of it, zero.
So, since we're rounding down, our number becomes:
8,246,000