What are MAE and MAPE?

MAE stands for Mean Absolute Error, which is defined as the average of absolute or positive errors of all values. In simple words, we can say MAE is an average of absolute or positive differences between predicted values and the actual values.

Tutorial: Understanding Linear Regression and Regression Error Metrics


Image Source: Google Images

MAPE stands for Mean Absolute Percent Error, which calculates the average absolute error in percentage terms. In simple words, It can be understood as the percentage average of absolute or positive errors.

Tutorial: Understanding Linear Regression and Regression Error Metrics


Image Source: Google Images