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Question
tommy went to the store to buy paint for his room. he was expecting to pay $32, but it was more expensive than he estimated. he bought all the paint for $40. what is the percent error in tommys estimate? %
Step1: Find absolute error
$\text{Absolute Error} = |\text{Actual Value} - \text{Estimated Value}| = |40 - 32| = 8$
Step2: Calculate percent error
$\text{Percent Error} = \frac{\text{Absolute Error}}{\text{Actual Value}} \times 100\% = \frac{8}{40} \times 100\% = 20\%$
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