The Percentage Error Calculator is used to calculate the percentage error.
The percentage error, also known as percent error, is a measure of how inaccurate a measurement is, standardized to how large the measurement is. It is the relative error expressed in terms of per 100. The relative error is calculated as the absolute error divided by the magnitude of the exact value. The absolute error is the magnitude of the difference between the actual value and the estimated value.
The percentage error calculation formula is as follows:
Percent error = (Estimated value - Actual value) / Actual value × 100% (in absolute value)