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The error of an estimate or prediction is its deviation from the true value, which may be unobservable (e.g., regression parameters), or observable (e.g., future realizations). Use the [error-message] tag to ask about software errors.
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What is the proper way to measure error for an estimation algorithm?
We use relative error for accuracy measurement at first, but we soon noticed that for small values, the error usually exceeds 100% and raises the average error. … the error for an estimation algorithm? …