Re: Rounding Error
From: Jerry W. Lewis (post_a_reply_at_no_e-mail.com)
Date: 04/19/04
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Date: Mon, 19 Apr 2004 12:59:38 GMT
Thanks, I will look for that Australia reference.
Round 5 to even has been an ASTM standard since the 1940's, so hardly a
flash in the pan, but I agree that education has been inconsistent.
IEEE specifies the binary equivalent, which is presumably used by all
microprocessors.
US IRS always rounds 5 up, as do banks for Euro conversion (in Europe
and presumably worldwide), also the United States Pharmacopoeia (because
someone convinced them that computers couldn't do ASTM rounding). I
have no training in accounting, but but cannot believe that the rule
would be so poorly known in the US if it was regularly used in US banking.
Jerry
Bernard V Liengme wrote:
> Jerry,
> I recall a message some time ago that stated the "round to even when 5" rule
> is mandatory in Australia (presumable in financial circles)
> In Canada, my kids were taught this rule 15 years ago in Nova Scotia but
> students I get now from Nova Scotia do not use it. A flash in the pan as
> part of "new math"?
> Regards
> Bernard
>
>
> "Jerry W. Lewis" <post_a_reply@no_e-mail.com> wrote in message
> news:408330B0.9000009@no_e-mail.com...
...
>>Aside: I know that Microsoft refers to the rounding method specified in
>>the ASTM E 29 standard as "bankers rounding", but do/have bankers ever
>>used it?
>>
>>Jerry
>>
>>Peo Sjoblom wrote:
>>
>>>I think you are referring to "bankers rounding".
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