To calculate the percent error, we can use the formula for percent error:
\[ \text{Percent Error} = \left( \frac{|\text{Actual Value} - \text{Estimated Value}|}{\text{Estimated Value}} \right) \times 100 \]
In this case:
- Estimated Value (goal) = 250 bags
- Actual Value (sold) = 266 bags
Now, let's plug these values into the formula:
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Calculate the absolute error: \[ |\text{Actual Value} - \text{Estimated Value}| = |266 - 250| = 16 \]
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Now substitute into the percent error formula: \[ \text{Percent Error} = \left( \frac{16}{250} \right) \times 100 \]
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Calculate: \[ \text{Percent Error} = \left( 0.064 \right) \times 100 = 6.4% \]
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Finally, rounding to the nearest whole number: \[ \text{Percent Error} \approx 6% \]
Therefore, the percent error is 6%.