Question

A hospital bill is estimated to be 480.00$. It ends up actually costing the patient $524.50. What is the percent of error in the bill? Round to the nearest tenths place

Answer 1

8.5%

Explanation:

The formula for Percentage error =

[|Measured value - Real value |/Real value] × 100

Measured value = Estimated value = $480.

Real value = $524.50

Percentage error =

[|480 - 524.50|/524.50] × 100

=[ |-44.5|/524.50] × 100

= [44.5/524.50] × 100

= 8.484270734%

≈ 8.5%

Therefore the percentage error in the bill = 8.5%