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

The formula for calculating the standard error of the mean is the sample standard deviation divided by the square root of the sample size.

Kani Chen, Shaojun Guo, Yuanyuan Lin, Zhiliang Ying, Least Absolute Relative Error Estimation, Journal of the American Statistical Association, Vol. 105, No. 491 ...