A bicycle has a cash price of $319.95. It can be bought on hire purchase with a deposit of $69 and ten monthly installments of $
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In order to find the percent error, we need to first find the difference between what was expected and what is actually costed. We do this by subtracting:
So now we know that the expected amount was off by $63. To find the percent error, we need to take this $63, and divide it by the amount that was estimated. Let's do that now:
However this is in decimal form. We need to multiply by 100 in order to get it in a percent:
Now we know that the percent error of the hospital bill estimate is 13.64%.
So now we know that the expected amount was off by $63. To find the percent error, we need to take this $63, and divide it by the amount that was estimated. Let's do that now:
However this is in decimal form. We need to multiply by 100 in order to get it in a percent:
Now we know that the percent error of the hospital bill estimate is 13.64%.