Understanding Percent Error Concepts

The video introduces the concept of percent error, explaining its significance in measuring the accuracy of estimates or measurements compared to actual values. Through examples, it demonstrates how to calculate percent error, highlighting the difference between error and percent error. The video emphasizes that percent error provides a more accurate representation of estimation accuracy than just the error value. It concludes with additional examples to reinforce understanding.

What is the primary purpose of calculating percent error?

• To determine the exact value of a measurement

• To assess how far off a measurement is from the actual value

• To convert measurements into percentages

• To find the average of multiple measurements

In the lunch example, what was the error in the restaurant owner's estimate?

• 9 customers under the actual value

• 15 customers over the actual value

• 9 customers over the actual value

• 15 customers under the actual value

How is the percent error calculated after finding the error?

• By dividing the error by the estimated value and multiplying by 100

• By dividing the error by the actual value and multiplying by 100

• By adding the error to the actual value and multiplying by 100

• By subtracting the error from the estimated value and multiplying by 100

In the dinner example, what does a negative error indicate?

• The estimate was over the actual value

• The estimate was under the actual value

• The estimate was twice the actual value

• The estimate was equal to the actual value

Which estimate was more accurate, lunch or dinner, based on percent error?

• Lunch, because the error was smaller

• Dinner, because the percent error was smaller

• Lunch, because the percent error was larger

• Dinner, because the error was larger

What does a percent error of 0% indicate?

• The estimate was completely inaccurate

• The estimate was twice the actual value

• The estimate was exactly the same as the actual value

• The estimate was slightly off from the actual value

In the third example, what was the percent error when the estimate was 7 and the actual value was 28?

• 100%

• 75%

• 50%

• 25%

Why is percent error a better measure than just the error itself?

• It eliminates the need for actual values

• It always results in a smaller number

• It considers the size of the actual value

• It provides a percentage that is easier to understand

In the fourth example, what was the percent error when the estimate was 110,000 and the actual value was 1,000,000?

• 0.1%

• 5%

• 10%

• 1%

What does a high percent error indicate about the accuracy of an estimate?

• The estimate is not very accurate

• The estimate is exactly correct

• The estimate is irrelevant

• The estimate is very accurate