sorry this is off-topic but there seem to be a lot of mathematicians here. I'm an elementary teacher and currently teaching children about decimal places and place value. I try to use real world examples to teach maths whenever possible but I can't think of any using 3 decimal places that would be relevant to such young children (aged 8-9).
any ideas?
Definitely baseball statistics for that audience. Also finishing times for sprints to thousandths of a second.
Not to answer your question, but to suggest useful resources for elementary math teaching, I'll suggest
http://www.amazon.com/Knowing-Teaching-Elementary-Mathematic...
an essential book for someone in your profession, and
http://www.amazon.com/Vision-Elementary-Mathematics-W-Sawyer...
a book with wonderful teaching tips, and
http://www.amazon.com/Elementary-Mathematics-for-Teachers/dp...
a very excellent set of exercises for any elementary mathematics teacher preparing lessons, and a great guide to the best available series of mathematics textbooks in English.
You might also try asking your question on the appropriate forum
http://www.artofproblemsolving.com/Forum/index.php?f=300
(the forum is really for middle school math, but you could give it a try) on the Art of Problem Solving site, a generally good site for discussion of math.