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 and its estimator :

{\rm MAXARE} = 100\% \cdot  {\rm max} \left\{ \frac{ \hat x_k - x_k }{ x_k }  \right\}_{k = 1..N}

See also