Mean Relative Error Measure

A Mean Relative Error Measure is an approximation error measure based on the mean of the relative errors (over all predicted values).

• AKA: Relative Average Deviation.
• Context:
  • …
• Counter-Example(s):
  • Mean Squared Error Measure (and root mean squared error).
  • Mean Absolute Error Measure.
• See: Estimator Evaluation Metric, Absolute Deviation, Estimation Model Error Estimator, Classification Error.

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