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Learn how to compare two quantities while taking into account their sizes using relative change and its formulas. Find out the difference between relative change, percent error, and percentage change, and see examples and applications.
In statistics, the 68–95–99.7 rule, also known as the empirical rule, and sometimes abbreviated 3sr, is a shorthand used to remember the percentage of values that lie within an interval estimate in a normal distribution: approximately 68%, 95%, and 99.7% of the values lie within one, two, and three standard deviations of the mean, respectively.
The absolute difference of two real numbers is the distance on the real line between them. It is a special case of the L p distance and a metric that satisfies the properties of non-negativity, symmetry, and triangle inequality.
A percentage point is the unit for the arithmetic difference between two percentages. Learn how to use and interpret percentage points in statistics, probability, and risk assessment.
Learn how to calculate and interpret MAE, a measure of errors between paired observations expressing the same phenomenon. Compare MAE with other related measures, such as RMSE, MASE, and MALE.
MAPE (mean absolute percentage error) and WMAPE (weighted mean absolute percentage error) are measures of prediction accuracy for forecasting methods. Learn their formulas, advantages, drawbacks and alternatives from Wikipedia.
Learn the definition, properties and applications of mean squared error (MSE) in statistics and machine learning. MSE measures the average of the squares of the ...
Learn how variables' uncertainties affect the uncertainty of a function based on them. Find formulas, examples, and caveats for linear and non-linear combinations, reciprocal and shifted reciprocal functions, and ratios.