Synonym: Average Percentage Error (APE) = Average Relative Error (ARE)
Statistical metric characterizing the model prediction quality ( goodness of fit ) between the datasets of a given variable
x and its estimator
\hat x :
| (1) | {\rm APE} = 100 % \mbox{max}_{k = 1..N} \{ \frac{\hat x_k - x_k}{x_k} \} |
See also
Formal science / Mathematics / Statistics / Statistical Metric