Question

5. Demarco estimated that the band fundraiser would make $492. The fundraiser actually made $600. What was the percent error of David's estimate?

Be sure to use the percent error formula:

[(estimate - actual) ÷ actual] x 100 = percent error
*
3 points
18%
30%
55%
82%

Answer 1

To calculate the percent error using the provided formula:

\[
\text{Percent Error} = \left( \frac{\text{Estimate} - \text{Actual}}{\text{Actual}} \right) \times 100
\]

Given:
- Estimate = $492
- Actual = $600

We can substitute these values into the formula:

\[
\text{Percent Error} = \left( \frac{492 - 600}{600} \right) \times 100
\]

Calculating the numerator:

\[
492 - 600 = -108
\]

Now substitute this back into the formula:

\[
\text{Percent Error} = \left( \frac{-108}{600} \right) \times 100
\]

Calculating the division:

\[
\frac{-108}{600} = -0.18
\]

Now multiply by 100:

\[
-0.18 \times 100 = -18
\]

The percent error is 18%, and since percent error is typically expressed as a positive value, we report it as:

\[
\text{Percent Error} = 18\%
\]

Therefore, the answer is **18%**.