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1: Financial data: 2 decimal places.
2: Scientific Data: The number of decimal places should match the precision required by the scientific measurement.
3: Geographical Coordinates: For latitude and longitude, 5,6 decimal places.
4:General Numerical Data: 3,4 Decimal Places.
5:Machine Learning and Statistical Analysis:
Typically, using around 4 to 6 decimal places can provide a good balance between precision and computational performance.
Reducing the number of decimal places can help in reducing overfitting and making models more generalizable.

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ALL CONCEPT CLEAR

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jazakumulah kharn

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IEEE 754 provides different precisions, such as single precision (32 bits), double precision (64 bits), and extended precision (80 bits). These precisions correspond to roughly 7, 15, and 19 decimal places of accuracy, respectively.

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