Synonym: Average Absolute Relative Error (AARE) = Average Absolute Percentage Error (AAPE)
Statistical metric characterizing the model prediction quality ( goodness of fit ) between the datasets of a given variable
and its estimator LaTeX Math Inline body x
: LaTeX Math Inline body \hat x
LaTeX Math Block | ||||
---|---|---|---|---|
| ||||
{\rm AARE} = \frac{100 %}{N} \, \sum_{k = 1}^N \left| \frac{\hat x_k - x_k}{x_k} \right | |
See also
Formal science / Mathematics / Statistics / Statistical Metric