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 and its estimator :
{\rm APE} = \left\{ \frac{ \hat x_k - x_k }{ x_k } \right\} |
Formal science / Mathematics / Statistics / Statistical Metric
Natural Science / System / Model