Yu Yan planned to buy a new truck. She expected to pay $25,500. She negotiated the price so that the final cost was $21,800. Calculate the percent error. (1 point)

Question

Responses

17%
17%

14.5%
14.5%

−17%
negative 17 percent

0.1697%

Answer 1

To calculate the percent error, we can use the following formula:

\[ \text{Percent Error} = \frac{\text{Absolute Error}}{\text{Expected Value}} \times 100 \]

Where:

• Absolute Error = Expected Value - Final Cost

Given:

• Expected Value = $25,500
• Final Cost = $21,800

Calculate the Absolute Error:

\[ \text{Absolute Error} = 25,500 - 21,800 = 3,700 \]

Now, plug this value into the formula:

\[ \text{Percent Error} = \frac{3,700}{25,500} \times 100 \]

Calculating the fraction:

\[ \frac{3,700}{25,500} \approx 0.1455 \]

Now, multiplying by 100 to get the percentage:

\[ 0.1455 \times 100 \approx 14.55% \]

Rounding this, the percent error is approximately 14.5%.

Therefore, the correct response is 14.5%.