Question 1: Do you understand their answers and agree with their conclusions and viewpoints?

From The info Below:

Assume that the US Government has projected that it will have a deficit of $438billion. But, in reality, the actual deficit is $587 billion. Describe the size of the error in terms of both absolute error and relative error. Describe any uncertainty that might be associated with these numbers.

It has been a long time since I had math word problems. I started out defining each term such as absolute error, relative error, and deficit because when you understand each term, you can best solve the problem. Keep in mind, when the absolute and relative errors are negative, the claimed or measured value is less than the true value.

According to the text, absolute error describes how far a measured value sits between the true value (Bennett & Biggs, 2019).That would be absolute error equals measured value minus true value or

Absolute error = measured value - true value

Relative error compares the size of absolute error to its true value and is often used as a percentage or

Relative error = measured value - true valueX 100

True value

I will use the $438 billion deficit as the measured value. The true value would be the cost of $587 billion. Here is what it should look like:

Absolute error = $438 billion - $587 billion = -$1.0

$587 billionX 100% = 25%

The claimed cost is too low by $149 billion or 25%.

Bennett, J. O., & Briggs, W. L. (2019).Using and understanding mathematics: A quantitative reasoning approach(7th ed.). Boston, MA: Pearson.