Answer:
Absolute error = $25
Step-by-step explanation:
Given that:
Amount spent by John on shopping trip = $75
Estimated amount to spent on shopping trip = $100
Absolute error = Approximate value - Exact value
Here,
Approximate value = $100
Exact value = $75
Absolute error = 100 - 75
Absolute error = $25
Percentage = [tex]\frac{Absolute\ error}{Exact\ value}*100[/tex]
Percentage = [tex]\frac{25}{75}*100[/tex]
Percentage = 33.33%
Hence,
Absolute error = $25