Question
Differentiate between absolute errors and relative errors.
Solution
bsolute errors : Absolute error is the difference between the true and estimated value.
Absolute error = actual value – estimated value
Relative errors : It is the ratio of absolute error to the estimated value. It is found out by dividing the absolute error by the estimated error.
Relative error
= Actual value - Estimated value
Estimated error
Example : If the actual value is 400 and estimated value is 350. Find absolute and relative errors.
Solution : Here the actual value is 400 and estimated value is 350.
Absolute error = actual error – estimated value.
= 400 – 350 = 50
Relative error = 50 / 350 = 0.14
The relative error can also be expressed as percentage of 100.
