This percent error calculator calculates the percentage ratio of the difference between the approximated/observed value and the true/real value over the true figure. There is more information about this statistics calculation below the form.
What is percent error?
In statistics, the percent error represents the percentage ratio of the estimated value and the true value difference over the true one. In practice there is a difference between the data used (Dused) and the true data (Dtrue) either because of an impossibility to measure the true values or because of an inaccuracy in measuring it. In order to mark this difference, especially statistics came up with 3 concepts:
- Absolute Error = |D true – Dused|
- Relative Error = |(Dtrue - Dused)/Dtrue| (Where Dtrue is <> 0)
- Percent Error = |(Dtrue - Dused)/Dtrue| * 100 (Where Dtrue is <> 0)
The algorithm behind this percent error calculator uses the three formulas presented above.
Example of a result
In case of a data observed = 125 and a true value of 240 the results are:
Percent error = -47.92
Absolute error = -115
Relative error = -0.4809 Apr, 2015