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Relative change. In any quantitative science, the terms relative change and relative difference are used to compare two quantities while taking into account the "sizes" of the things being compared, i.e. dividing by a standard or reference or starting value. [1] The comparison is expressed as a ratio and is a unitless number.
Confusingly, sometimes when people refer to wMAPE they are talking about a different model in which the numerator and denominator of the wMAPE formula above are weighted again by another set of custom weights .
In probability theory and statistics, the coefficient of variation ( CV ), also known as normalized root-mean-square deviation (NRMSD), percent RMS, and relative standard deviation ( RSD ), is a standardized measure of dispersion of a probability distribution or frequency distribution. It is defined as the ratio of the standard deviation to the ...
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Percentage error; Mean absolute percentage error; Mean squared error; Mean squared prediction error; Minimum mean-square error; Squared deviations; Peak signal-to-noise ratio; Root mean square deviation; Errors and residuals in statistics; References. Khan, Aman U.; Hildreth, W. Bartley (2003). Case studies in public budgeting and financial ...
The mean absolute difference (univariate) is a measure of statistical dispersion equal to the average absolute difference of two independent values drawn from a probability distribution. A related statistic is the relative mean absolute difference, which is the mean absolute difference divided by the arithmetic mean, and equal to twice the Gini ...
The difference between the height of each man in the sample and the unobservable population mean is a statistical error, whereas; The difference between the height of each man in the sample and the observable sample mean is a residual.
However, by doing so, the title of this article will need to change so as to better describe containing the two techniques of finding the "Percent difference" and "Percent error". Gilawson 06:09, 10 April 2007 (UTC)".