Absolute error shows how far a measurement is from the true value, essential for accuracy in science, engineering, and daily life.

In investing, absolute errors are expressed in dollars. For example, at the beginning of 2015, Amazon.com stock was trading for about $313 per share. Let's say you forecast that Amazon would be ...

If you predict a stock's value to be $100, whether it becomes $105 or $95, you were "off by $5" either way. Relative error ...