The standard error of estimate measures the accuracy of a prediction.

Question

Quizplus · Accepted Answer

The standard error of estimate is a measure of the variability or scatter of prediction errors. It is calculated as the standard deviation of the difference between the predicted values and the actual values. Therefore, it reflects the accuracy of prediction by indicating how much the predicted values deviate from the actual values on average. A smaller standard error of estimate means that the predicted values are generally closer to the actual values, indicating a more accurate prediction.

The Standard Error of Estimate Measures the Accuracy of a Prediction