Synonym: Maximum Percentage Error (MAXAPE) = Maximum Relative Error (MAXRE)

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)	$\begin{array}{l}\displaystyle {\rm MAXRE} = 100\% \cdot {\rm max} \left\{ \frac{ \hat x_k - x_k }{ x_k } \right\}_{k = 1..N}\end{array}$

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See also