The percent error is calculated using the formula:

$\text{Percent Error} = \left| \frac{\text{Estimated Value} - \text{Actual Value}}{\text{Actual Value}} \right| \times 100$

Step 1: Identify the values

• Estimated Value = $25.00
• Actual Value = $30.60

Step 2: Substitute the values into the formula

$\text{Percent Error} = \left| \frac{25.00 - 30.60}{30.60} \right| \times 100$

$\text{Percent Error} = \left| \frac{-5.60}{30.60} \right| \times 100$

$\text{Percent Error} = \left( 0.1835 \right) \times 100$

$\text{Percent Error} \approx 18.4\%$

Final Answer:

The percent error for Doug's estimate is approximately 18.4%.

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Would you like to go over how to compute percent error in more detail or have other questions? Here are some related questions:

1. How do you calculate the percent error if the actual value is smaller than the estimated value?
2. What is the difference between absolute error and percent error?
3. How do you calculate percent error when the values are in different units (like dollars and cents)?
4. What impact does a higher or lower actual value have on the percent error?
5. How can you reduce the percent error when making estimates in daily life?

Tip: Always ensure the "actual" value is known and accurate before calculating percent error, as it directly impacts the result.