http://www.dakota-truck.net/CGI-BIN/TireCalc.cgi
Unless you pay Ford to reflash your PCM for the new tire size, you will be going 65mph and indicating about 62. That's a ticket recipe, so keep that in mind, along with the fuel mileage calculations.
In my case, a 5.5% difference. I have to subtract miles (5.5%) when calculating mpg and drive fewer miles than the odometer reports.
Regardless of calculation error, you can expect your mpg to go down with larger tires.
Pasted from the Dakota calculator, your case:
If your speedometer has been calibrated for 225/70 R 15 (27 x 8.86 x 15) tires, replacing them with 235/75 R 15's (28 x 9.25 x 15's) would result in the speedometer reading low by 5.11%.
Same as with the speedometer, if your odometer has been calibrated for 225/70 R 15 (27 x 8.86 x 15) tires, replacing them with 235/75 R 15's (29 x 9.25 x 15's) would result in the odometer reading low by 5.11%.
As far as gearing goes, if you have a 3.73 rearend and 225/70 R 15 tires (27 x 8.86 x 15), changing to 235/75 R 15's (29 x 9.25 x 15's) would be the same as if you kept your current wheels and tires but changed your rearend gears to 3.54's