Synonym: Average Relative Error (ARE) = Average Percentage Error (APE)
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 ARE} = \frac{100 %}{N} \, \sum_{k = 1}^N \frac{\hat x_k - x_k}{x_k} |
See also
Formal science / Mathematics / Statistics / Statistical Metric