Question

James estimated the total cost of groceries to be $50. The actual cost of the groceries is $65. What is the percent error? Round your answer to the nearest whole percent. Enter your answer in the box. %

Answer 1

The percentage error is 23%

Explanation:

The estimated total cost of the groceries = $50

The actual cost of the groceries = $65

To find the error value, we need to subtract the value of actual cost and total cost of the groceries.

Thus,

error value = actual cost - total cost

error value $= 65-50=15$

Hence, error value = $15

The formula to determine the percent error is given by

$Percent error =\left(\frac{\text { error value}}{\text {actual value}}\right) \times 100$

Substituting the values in the formula, we get,

$\begin{aligned} \text { Percent error } &=\left(\frac{15}{65}\right) \times 100 \\ &=0.231 \times 100 \\ &=23.1 \end{aligned}$

Rounding off the value, we have, 23%

Thus, the percentage error is 23%