Description: Relative error is a measure used to evaluate the accuracy of a measurement compared to a true or reference value. It is expressed as a percentage and is calculated by dividing the absolute error (the difference between the measured value and the true value) by the true value, and then multiplying the result by 100. This metric is particularly useful in various fields, including statistics, engineering, and data analysis, where the optimization of models is sought. Relative error allows professionals to understand not only how far a measurement is from its true value but also how that discrepancy relates to the magnitude of the true value. This is crucial, as an absolute error may seem small in absolute terms but can be significant if the true value is also small. Therefore, relative error provides a more contextualized perspective on the accuracy of measurements, which is fundamental for the validation and continuous improvement of models in technology and data science, where precision and reliability are essential for the success of applications.
