The average cost of a week-long holiday for 2 adults and 2 children is reported as being AED 10,200 (Emirati Dirham). You know the actual value was calculated as AED 10,197.89 but that it has been rounded. What is this process called?
A) Biased rounding
B) Over rounding
C) Fair rounding
D) Discrete rounding

Question

Quizplus · Accepted Answer

The process is called "fair rounding" because the value was rounded to the nearest whole number in a neutral manner, without systematically overestimating or underestimating the value.

The Average Cost of a Week-Long Holiday for 2 Adults