Question

A hospital bill is estimated to be $480,000. It ends up actually costing the patient $524,50. What percent of error is in the bill? Round to the nearest tenths place.

Answer 1

8.5 %

Explanation:

The formula used her :

\text{Percent error }=\dfrac{|\text{Estimated value-Actual value}|}{\text{Actual value}}\times100Percent error =

Actual value

∣Estimated value-Actual value∣

×100

Given : A hospital bill is estimated to be $480.00 it ends up actually costing the patient $524.50 .

Then, the percent of Error in the bill will be :

\begin{gathered}\text{Percent error }=\dfrac{\text{524.50}}\times100\\\\=\dfrac-44.5{524.50}\times100\\\\=\dfrac{44.5}{524.50}\times100\\\\=8.48427073403\approx8.5\%\end{gathered}

Percent error =

524.50

∣480−524.50∣

×100

=

524.50

∣−44.5∣

×100

=

524.50

44.5

×100

=8.48427073403≈8.5%

[Rounded to the nearest tenth]

Hence, the percent of Error in the bill = 8.5%