I have inquiry on absolute error and squared error. Does this same with mean absolute error (MAE) and mean squared error (MSE)? I did read the documentation but I'm still slightly confuse.
Another question is does the relative error is same as important for regression? Would be great if someone can explain these to me.
Altair Employee
The MAE is the mean error for each of the datapoints in the test dataset. MSE is the mean of the square of these errors.
Relative error is the average of the deviations divided by the actual value. I believe this is the formula: (1 / N) Σ_n (|Y_n - f(X_n)| / |Y_n|)
Best,
Roland