Calculating Percent Error and Estimation

The video tutorial introduces the concept of percent error, explaining how it measures the difference between an estimate and the exact value as a percentage. The instructor provides a formula for calculating percent error and demonstrates its application through examples, such as estimating ages. The video also discusses the impact of overestimation and underestimation on percent error, emphasizing that the error remains the same regardless of whether the estimate is above or below the actual value.

What is the primary purpose of calculating percent error?

• To convert an estimate into a percentage

• To find out how far an estimate is from the exact value

• To determine the exact value of an estimate

• To calculate the average of multiple estimates

Percent error is expressed as a percentage of which value?

• The estimated value

• The average value

• The exact value

• The median value

Which of the following is NOT a component of the percent error formula?

• Sum of exact and estimated values

• Exact value

• Estimated value

• Difference between exact and estimated values

What mathematical operation is used to find the difference in the percent error formula?

• Addition

• Subtraction

• Multiplication

• Division

What is the significance of the exact value in the percent error formula?

• It is ignored

• It is used to divide the difference

• It is added to the estimate

• It is subtracted from the estimate

Why is absolute value used in the percent error calculation?

• To ensure the result is always positive

• To compare two different estimates

• To make the calculation easier

• To convert the result into a percentage

In the example given, what was the estimated age of the young lady?

• 42 years

• 52 years

• 32 years

• 22 years

What was the actual age of the young lady in the example?

• 32 years

• 42 years

• 22 years

• 52 years

How is the percent error calculated after finding the difference and dividing by the exact value?

• By dividing by 100

• By multiplying by 100

• By dividing by 10

• By multiplying by 10

What was the percent error in the example where the estimated age was 32 and the actual age was 42?

• 23.8%

• 10%

• 50%

• 42%