Absolute error The numerical difference between a forecasted quantity and the actual result is known as absolute error.

Multiplicative regression model or accelerated failure time model, which becomes linear regression model after logarithmic transformation, is useful in analyzing data with positive responses, such as ...

ABSTRACT:The relative abilities of 2, dimensioned statistics—the root-mean-square error (RMSE) and the mean absolute error (MAE)—to describe average model-performance error are examined.

In investing, absolute errors are expressed in dollars. For example, at the beginning of 2015, Amazon.com stock was trading for about $313 per share.