Mark and Matthew signed up to walk in a 5K walk/run race. They predict it will take them 60 minutes to complete the race. Mark and Matthew finished the race in 53 minutes. What is the percent error? Round to the nearest tenth.(1 point)
$$
\text{Percent Error} = \left|\frac{\text{Measured Value} - \text{Accepted Value}}{\text{Accepted Value}}\right| \times 100
$$
The accepted value is 60 minutes and the measured value is 53 minutes.
\begin{align*}
\text{Percent Error} & = \left|\frac{53 - 60}{60}\right| \times 100 \\
& = \left|\frac{-7}{60}\right| \times 100 \\
& \approx \left|0.1167\right| \times 100 \\
& \approx 11.67
\end{align*}
Rounding to the nearest tenth, the percent error is approximately $\boxed{11.7} \%$.