Error Rate

A type of metric. It is a value that tells us how often a model produces incorrect predictions. The lower the error rate, the better.

It can be calculated by dividing the number of incorrect predictions by the number of total predictions. Optionally multiply the result by 100 to obtain a percentage.

\[ \frac{\text{number of incorrect predictions}}{\text{number of total predictions}} \]

Error rate is also 1 - accuracy.

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