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% \cdot {\rm max} \left\{ \frac{ \hat x_k - x_k }{ x_k } \right\}_{k = 1..N} |
See also
Formal science / Mathematics / Statistics / Statistical Metric