Question

A school district’s income from property taxes was estimated at $1.4 million last year, but the actual income came in at $1.25 million. What was the absolute error in the estimation?

Answer 1

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GiveN:

• Actual income = $1.25 million
• Estimated income = $1.4 million

To FinD:

• Absolute error in the estimation?

Step-wise-Step Explanation:

Absolute error is just the difference between the expected value and actual income.

It was expected that the school's income from property taxes were estimated at 1.4 million, but then we see that the actual income was 1.25 million.

Then absolute error:

➛ 1.4 million - 1.25 million

➛ 1,400,000 - 1,250,000

➛ 150,000 dollars / 0.15 million dollars

Hence,

• The absolute error in the estimation was $ 0.15 million.

Answer 2

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Here, we have give the estimated and actual district's income of a school and we have to find the actual difference between expected income or actual income. Thus, we simply subtract Actual Income from the Expected income from property taxes and will got the absolute error in the estimated income.

$\huge{\underline{\boxed{\sf Answer}}}$

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$\large{\underline{\sf Given:-}}$

◈Estimated Income = $1.4million

◈Actual Income = $1.25million

$\large{\underline{\sf Find:-}}$

❏Absolute error in the estimation.

$\large{\underline{\sf Solution:-}}$

Here, we will subtract Actual income from the Expected income.

➠Absolute error = Expected Income - Actual Income

where,

• Expected Income = $1.4 million
• Actual Income = $1.25 million

So,

➠Absolute error = Expected Income - Actual Income

➠Absolute error = 1.4 - 1.25

➠Absolute error = $0.15 million

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Hence, Absolute error in the estimation will be $0.15million