1 answer
(click or scroll down)
To find the percent error, use the formula:
Percent Error = (|Predicted Value - Actual Value| / Actual Value) * 100
Given:
Predicted Value = 79,000
Actual Value = 81,500
Percent Error = (|79,000 - 81,500| / 81,500) * 100
Percent Error = (2,500 / 81,500) * 100
Percent Error = 0.0307
Rounded to the nearest hundredth of a percent, the percent error is 0.0307%, which is the second option in the responses.