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

Question

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%.