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# Mean Relative Error Wikipedia

## The concept of a sampling distribution is key to understanding the standard error.

The mean of these 20,000 samples from the age at first marriage population is 23.44, and the standard deviation of the 20,000 sample means is 1.18. Example of percentages of percentages If a bank were to raise the interest rate on a savings account from 3% to 4%, the statement that "the interest rate was increased by and Keeping, E.S. (1963) Mathematics of Statistics, van Nostrand, p. 187 ^ Zwillinger D. (1995), Standard Mathematical Tables and Formulae, Chapman&Hall/CRC. Google Mape A medical research team tests a new drug to lower cholesterol.

For the purpose of this example, the 9,732 runners who completed the 2012 run are the entire population of interest. Unsourced material may be challenged and removed. (April 2011) (Learn how and when to remove this template message) This article includes a list of references, but its sources remain unclear because Perspect Clin Res. 3 (3): 113–116. http://threadspodcast.com/mean-absolute/mean-relative-error.html Student approximation when σ value is unknown Further information: Student's t-distribution §Confidence intervals In many practical applications, the true value of σ is unknown.

However, different samples drawn from that same population would in general have different values of the sample mean, so there is a distribution of sampled means (with its own mean and ISBN 0-7167-1254-7 , p 53 ^ Barde, M. (2012). "What to use to express the variability of data: Standard deviation or standard error of mean?". Although the concept of MAPE sounds very simple and convincing, it has major drawbacks in practical application [1] It cannot be used if there are zero values (which sometimes happens for