Answer: 8.484%
Step-by-step explanation:
The formula for percentage error is calculated as:
= (actual value observed - expected value) / expected value × 100
where,
Actual value observed = $480.00
Expected value = $524.50
Percent error = ($480.00 - $524.50)/$524.50 × 100
= -$44.50/$524.50 × 100
= -0.08484 × 100
= -8.484
= 8.484%
