To calculate the percentage error, you can use the formula:
\[ \text{Percentage Error} = \left( \frac{\text{Actual Value} - \text{Predicted Value}}{\text{Predicted Value}} \right) \times 100 \]
In this case:
- Actual Value = 266 bags
- Predicted Value = 250 bags
First, find the difference between the actual value and the predicted value:
\[ \text{Difference} = 266 - 250 = 16 \]
Now, plug the values into the percentage error formula:
\[ \text{Percentage Error} = \left( \frac{16}{250} \right) \times 100 \]
Calculating this gives:
\[ \text{Percentage Error} = 0.064 \times 100 = 6.4 \]
Rounding to the nearest whole number, the percentage error is:
\[ \text{Percentage Error} \approx 6% \]
So, the percentage error is approximately 6%.