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Q: What is the important reason for know the approximate difference between gross pay and net pay?

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Yes, and the justification comes from the Central Limit Theorem.

Any reason why it wouldn't be 0.615?

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4 sheets approximately 24 inches by 48 inches can be made from a 4 foot by 8 foot piece of plywood. The reason it is approximate is the kerf of the saw blade takes up about 1/16 of an inch.

The central limit theorem is one of two fundamental theories of probability. It's very important because its the reason a great number of statistical procedures work. The theorem states the distribution of an average has the tendency to be normal, even when it turns out that the distribution from which the average is calculated is definitely non-normal.

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