The adjusted indications support a value of $307,400. How should the final opinion be expressed?
Correct Answer
B) $307,000, rounded to reflect the precision the data supports
Why this is correct: rounding states the conclusion at the precision the evidence actually carries, and adjustments estimated to the nearest thousand cannot support a figure to the hundred. Why the other choices are wrong: reporting $307,400 or a figure to the cent claims a precision no adjustment in the grid possessed; rounding to $300,000 discards information the data does support.
Why This Is the Correct Answer
Why this is correct: rounding states the conclusion at the precision the evidence actually carries, and adjustments estimated to the nearest thousand cannot support a figure to the hundred. Why the other choices are wrong: reporting $307,400 or a figure to the cent claims a precision no adjustment in the grid possessed; rounding to $300,000 discards information the data does support.
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