Q.What is a percentage error ?
Define Percent Error : It is the percentage error by which forecast of a model differ from actual value of the quantity being forecast or in other words it is percentage the difference between an observed or measured value and a true or known value.
For eg : In Chemistry while measuring a 10mL beaker, the value read was 9.5mL. The correct reading being 10mL so there is a percent error of 5%.
Percentage Error Formula : % error = [|Observed Value - True Value| / True Value] x 100.
Note: as we are taking the absolute value of difference hence % error will always come out as positive.
Please enter the details below to calculate percentage error.
Step 1: Subtract the True value from the Observed value.
Step 2: Take the absolute of the value obtained in Step 1, Now we have our error.
Step 3: Divide the error obtained in step 2 by the true value.
Step 4: Multiply the result from step 3 by 100 and add a % percentage sign at the end of the result.