Question

A store manager predicts that monthly sales will total $26,000. At the end of the month, the

Answer 1

The question is an illustration of percentage error

The percent of error is 10%

How to determine the percentage error

The given parameters are:

Prediction = $26000

Actual = $29000

The percent of error is then calculated as:

$Error = \frac{Actual - Prediction}{Actual}$

So, we have:

$Error = \frac{29000- 26000}{29000}$

$Error = \frac{3000}{29000}$

Evaluate the quotient

$Error = 0.1$

Express as percentage

$Error = 10\%$

Hence, the percent of error is 10%

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