SFR formats the value to significant figures (digits) as specified.
Value: Value to be formatted. Can be value, cell reference, or another function.
SignificantDigits: Number of Significant Figures (Digits)
MaxDecPlaces: Maximum number of Decimal Places.
RoundType: Sets rounding type. See Scientific vs Normal Rounding for more info on rounding. Valid settings are:
1 - Scientific
2 - Normal
3 - Truncate
This function can be placed by using the Format, Rounding menu option. Rules for significant figures:
Digits from 1-9 are always significant.
Zeros between two other significant digits are always significant
One or more additional zeros to the right of both the decimal place and another significant digit are significant.
Zeros used solely for spacing the decimal point (placeholders) are not significant.
SEE ALSO: GPREC, GDP, SFRZ, DPC
Why was the last one 3.05? Examining our formula we see we wanted 4 significant digits, therefore the function narrows our number from 3.0447 to 3.045 first. Then the function rounds 3.045 by rule #2 to 2 decimal places - giving us 3.05.