Synonym: Average Absolute Percentage Error (AAPE) = Average Absolute Relative Error (AARE)

Statistical metric characterizing the model prediction quality ( goodness of fit ) between the datasets of a given variable and its estimator :

{\rm AARE} = \frac{100 %}{N} \, \sum_{k = 1}^N  \left| \frac{\hat x_k - x_k}{x_k} \right |

See also