In
statisticsStatistics is a branch of mathematics concerned with collecting and interpreting data. According to other definitions, it is a mathematical science pertaining to the collection, analysis, interpretation or explanation, and presentation of data. Statisticians improve the quality of data with the...
, the
mean absolute error is a quantity used to measure how close forecasts or predictions are to the eventual outcomes. The mean absolute error (MAE) is given by
As the name suggests, the mean absolute error is an average of the absolute errors , where is the prediction and the true value. Note that alternative formulations may include relative frequencies as weight factors.
The mean absolute error is a common measure of
forecast errorIn statistics, a forecast error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest....
in time series analysis, where the terms "mean absolute deviation" is sometimes used in confusion with the more standard definition of mean absolute deviation.
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In
statisticsStatistics is a branch of mathematics concerned with collecting and interpreting data. According to other definitions, it is a mathematical science pertaining to the collection, analysis, interpretation or explanation, and presentation of data. Statisticians improve the quality of data with the...
, the
mean absolute error is a quantity used to measure how close forecasts or predictions are to the eventual outcomes. The mean absolute error (MAE) is given by
As the name suggests, the mean absolute error is an average of the absolute errors , where is the prediction and the true value. Note that alternative formulations may include relative frequencies as weight factors.
The mean absolute error is a common measure of
forecast errorIn statistics, a forecast error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest....
in time series analysis, where the terms "mean absolute deviation" is sometimes used in confusion with the more standard definition of mean absolute deviation. The same confusion exists more generally.