What does it mean to 'round' a number?

Rounding a number means making a less precise version of it.

Why is rounding numbers useful in real-life situations?

Rounding makes calculations easier and is useful when exact precision is not necessary.

Identify the digit in the place value you need to round to (the 'target' digit).

The digits to the right of the 'target' digit are replaced with zeros.

Look at the digit immediately to the right of the 'target' digit. If it is less than 5, round down; if it is 5 or greater, round up.

I can round multi-digit numbers to a specified place value.

1
Rounding a number means making a less precise version of it, and there are usually multiple ways to round a number depending on the level of precision needed.
2
When rounding, the number place you need to round to is called the 'target', and any digits in number places smaller than the target will be replaced with zeros.
3
To decide whether to round up or down, look at the digit to the right of the target digit; if it is less than 5, round down, but if it is 5 or greater, round up.