Synonym: Maximum Absolute Relative Error (MAXARE) = Maximum Absolute Percentage Error (MAXAPE)

Statistical metric characterizing the model prediction quality ( goodness of fit ) between the datasets of a given variable $\begin{array}{l}x\end{array}$ and its estimator $\begin{array}{l}\hat x\end{array}$ :

(1)	$\begin{array}{l}\displaystyle {\rm MAXARE} = {\rm max} \left\{ \left\| \frac{ \hat x_k - x_k }{ x_k } \right\| \right\}_{k = 1..N}\end{array}$

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See also