Question

When making a monthly budget, a family estimated they would spend $550 on groceries. She spent $38.60. What was the percent error?

Answer 1

To calculate the percent error, find the absolute difference between the estimated and actual amounts, divide it by the estimated amount, and multiply by 100. The percent error in this case is approximately 92.99%.

Step-by-step explanation:

To calculate the percent error, we need to find the absolute difference between the estimated and actual amounts, and then divide it by the estimated amount. Finally, we multiply the result by 100 to get the percentage. In this case, the estimated amount is $550 and the actual amount spent is $38.60.

Step 1: Find the absolute difference: | $38.60 - $550 | = $511.40

Step 2: Divide the absolute difference by the estimated amount: $511.40 / $550 = 0.9299

Step 3: Multiply the result by 100 to get the percentage: 0.9299 * 100 = 92.99%

Therefore, the percent error is approximately 92.99%.