Root Mean Square Error (RMSE)

 Root Mean Square Error (RMSE)

Definition:
Root Mean Square Error (RMSE) is a commonly used metric to measure the difference between predicted values by a model and the actual observed values. It represents the standard deviation of the residuals (prediction errors).

Key Properties of RMSE:

1. Units: RMSE is in the same units as the target variable, making it interpretable.
2. Sensitivity to Outliers: RMSE penalizes large errors more heavily because the errors are squared before averaging.
3. Best for Continuous Variables: Used mainly for regression problems to measure accuracy.