Final answer:
The method of choosing numbers close to the actual figures to simplify a computation and then adjusting the answer is indeed called compensation, making the statement true. This principle is particularly useful in science and engineering to make computations manageable.
Step-by-step explanation:
Choosing numbers close to the numbers in a problem to make the computation easier and then adjusting the answer for the numbers chosen is called compensation. So, the statement is True.
This method is a practical approach to simplifying complex calculations by working with numbers that are easier to handle. When the computation process is made easier, we then compensate for the difference to arrive at a more accurate answer.
For instance, when adding 299 + 503, you can choose to approximate 299 to 300 and then add it to 503 to get 803. After this, you need to adjust for the compensation by subtracting 1 (because you rounded up from 299 to 300) to get the accurate result of 802. Such mathematical strategies are particularly advantageous when making guesstimates in various scientific and engineering fields.