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Relative error percentage is a decimal percentage between 1 and 0 such that if you multiply the actual answer by (1-errorrel) you get your approximate value. In other words relative error is an indicator of how far away your apporximation is from the real value in terms of percent of the real value.

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Q: What does relative error percentage mean?
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What is percentage error?

Given a true value and the measured value,the error is measured value - true value;the relative error is (measured value - true value)/true value, andthe percentage error is 100*relative error.


What does your value of relative error mean?

The relative error measurements indicates the quality of a measurement relative to the quantity of the object being measured. To derive the relative error, divide the absolute error by the value of the object being measured.


Define error relative error and absolute error give examples of each?

Error is the term for the amount of difference between a value and it's approximation, and is represented by either an upper or lower case epsilon (E or ε)Eabs, absolute error, is |x-x*| where x* is the approximate of x, and gives a value that shows how far away the approximate is as a numerical valueErel, relative error, is |x-x*| / |x| and gives a value that shows how far away the approximate is as a decimal percentage i.e. if you times the relative error by 100 you get the percentage error of the approximation.


What does it mean to have a high percentage error?

It means that, relative to the true value of whatever you are trying to measure, the estimated (or calculated) value is quite a long way off.If the real value of something is 5 but is measure as 7 the absolute error is 7 - 5 = 2, but the percentage error is 100*2/5 = 40%If the true value is 100 and it is measured as 103, the absolute error is 103 - 100 = 3 which is greater than before. But the percentage error is only 100*3/100 = 3%.


What is mean absolute percentage error?

The mean absolute percent prediction error (MAPE), .The summation ignores observations where yt = 0.