Bay City Balloons studied the demand in Bay City before opening a hot air balloon company. The owners expected to book 375 hot air balloon rides in their first ninety days of business. Instead, they booked 392 rides in that period. What is the percent error for the company's estimate?

To calculate the percent error, you can use the formula:

\[ \text{Percent Error} = \frac{|\text{Estimated Value} - \text{Actual Value}|}{|\text{Actual Value}|} \times 100% \]

In this case, the estimated value is 375 rides, and the actual value is 392 rides.

Now, plug the values into the formula:

1. Calculate the absolute difference: \[ |\text{Estimated Value} - \text{Actual Value}| = |375 - 392| = | -17 | = 17 \]

2. Use the actual value: \[ |\text{Actual Value}| = |392| \]

3. Now, substitute these values into the percent error formula: \[ \text{Percent Error} = \frac{17}{392} \times 100% \]

4. Calculate the fraction: \[ \frac{17}{392} \approx 0.043387 \]

5. Convert to a percentage: \[ 0.043387 \times 100% \approx 4.3387% \]

6. Round to the nearest tenth of a percent: \[ \text{Percent Error} \approx 4.3% \]

Therefore, the percent error for the company's estimate is approximately 4.3%.