Question

You estimate that there will be 85 people at your party, but only 75 show up, what is the percent error of your estimate?

Answer 1

i got Observed Value as 10 and True Value as 11. someone tell me if i was wrong

Answer 2

Percentage error of your estimate = 13%

Explanation:

Given

Approximate value = 85

Exact value = 75

To determine

Percentage error can be determined using the formula

Percentage Error = |Approximate Value − Exact Value| / |Exact Value| × 100%

= |85 − 75| / |75| × 100%

= 10 / 75 × 100%

= 0.1333 × 100%

= 13%

Therefore, percentage error of your estimate = 13%