Case 1 – When doing currency exchange why is it better to carry the transaction out to 5 or six places rather than round to cents. What am I losing in the transaction. Keep in mind that we are transferring millions of dollars.

Case 2 – Identify 2 other areas that we need to be accurate to four or five decimals places and why?

Question

Case 1 – When doing currency exchange why is it better to carry the transaction out to 5 or six places rather than round to cents. What am I losing in the transaction. Keep in mind that we are transferring millions of dollars.

Case 2 – Identify 2 other areas that we need to be accurate to four or five decimals places and why?

pooja195 · Answer

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pooja195 · Answer

Have u started this yet?

anonymous · Answer

No, I'd appreciate some help with understanding what the answers should be.

pooja195 · Answer

hmm @TheSmartOne

thesmartone · Answer

I guess you have to be as accurate as you can because you want to strive for accuracy?

anonymous · Answer

Sounds like an answer I'd give(: but
 i'll have to be more detailed.... Thanks

thesmartone · Answer

Well if you start to round earlier on then your final answer will be a little off. Sometimes it could be little extra or a little smaller. So you want what you would actually deserve and not less than what you deserve.

thesmartone · Answer

For example 1$ = 2.34726 owlbucks

And I have 10 dollars. And I round the owlbucks to 2.35
Well then I would get 23.5 owlbucks.

But otherwise 10 x 2.34726 I would get 23.4726 and rounded it equals 23.47

thesmartone · Answer

So you see how you actually deserve more money but by rounding you get less at the end? @helppp101

thesmartone · Answer

That is why round at the end :)

anonymous · Answer

Oh wow, Perfect! Thank you for laying it out like that!

thesmartone · Answer

Np :D

anonymous · Answer

With case 2 what are the "areas" they're asking for?

thesmartone · Answer

They want you to come with another example of something like money where you have to round at the end.

thesmartone · Answer

I guess cooking would be a good example. You would want to pour the correct amount of food so that way the food would come out perfect.

anonymous · Answer

oh okay! :D

thesmartone · Answer

You can come up with another example :P

anonymous · Answer

Working on that now (; Thank you for your time!

thesmartone · Answer

It was my pleasure :)

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