Percentage Error/Examples

Examples of Percentage Error

Arbitrary Example

Let the true value of a population mean be $45$.

Let the estimate of that population mean, based on a sample, be $47 \cdotp 2$.

Then the percentage error of this estimate is:

$\dfrac {47 \cdotp 2 - 45} {45} \times 100 = 4 \cdotp 9 \%$

to $2$ significant figures.