Question

you estimate that a used car will cost $8,250, the actual cost was $7,500, find the percent error

Answer 1

EXPLANATION

If the actual was is $7,500 and the estimated cost was of $8,250, the percentage error is:

$percentage_{\text{error}}=\frac{\text{estimated}-\text{actual}}{\text{actual}}\cdot100=\frac{8250-7500}{7500}\cdot100=0.10\cdot100=10$

The percent error is 10%