To calculate the percent error, we can use the formula:
\[ \text{Percent Error} = \left( \frac{\text{Estimated Value} - \text{Actual Value}}{\text{Estimated Value}} \right) \times 100 \]
In this case, the estimated value (the predicted time) is 60 minutes, and the actual value (the actual time taken) is 53 minutes.
Now, let's calculate the percent error:
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Find the difference: \[ \text{Difference} = 60 - 53 = 7 \text{ minutes} \]
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Use the formula: \[ \text{Percent Error} = \left( \frac{7}{60} \right) \times 100 \]
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Calculate: \[ \frac{7}{60} \approx 0.11667 \]
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Convert to percentage: \[ 0.11667 \times 100 \approx 11.6667 \]
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Round to the nearest tenth: \[ 11.7 \]
Therefore, the percent error is 11.7%.