Percent Error Vs Percent Difference
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a percentage of one (or both) values Use Percentage Change when comparing an Old Value to a New Value Use Percentage Error when comparing an Approximate Value to an Exact Value percent difference formula Use Percentage Difference when both values mean the same kind of thing (one
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value is not obviously older or better than the other). (Refer to those links for more details) How to Calculate
Percent Difference Definition
Step 1: Subtract one value from the other Step 2: Then divide by ... what? Percentage Change: Divide by the Old Value Percentage Error: Divide by the Exact Value Percentage Difference: Divide by
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the Average of The Two Values Step 3: Is the answer negative? Percentage Change: a positive value is an increase, a negative value is a decrease. Percentage Error: ignore a minus sign (just leave it off), unless you want to know if the error is under or over the exact value Percentage Difference: ignore a minus sign, because neither value is more important, so being percent difference excel "above" or "below" does not make sense. Step 4: Convert this into a percentage (multiply by 100 and add a % sign) The Formulas (Note: the "|" symbols mean absolute value, so negatives become positive.) Percent Change = New Value - Old Value × 100% |Old Value| Example: There were 200 customers yesterday, and 240 today: 240 - 200 × 100% = (40/200) × 100% = 20% |200| A 20% increase. Percent Error = |Approximate Value - Exact Value| × 100% |Exact Value| Example: I thought 70 people would turn up to the concert, but in fact 80 did! |70 - 80| × 100% = (10/80) × 100% = 12.5% |80| I was in error by 12.5% (Without using the absolute value, the error is -12.5%, meaning I under-estimated the value) Percentage Difference = | First Value - Second Value | × 100% (First Value + Second Value)/2 Example: "Best Shoes" gets 200 customers, and "Cheap Shoes" gets 240 customers: | 240 - 200 | × 100% = |40/220| × 100% = 18.18...% (200+240)/2 Percentage Differenc
"sizes" of the things being compared. The comparison is expressed as a ratio and is a unitless number. By multiplying these ratios by 100 they can be expressed as percentages so the terms relative percent difference percentage change, percent(age) difference, or relative percentage difference are also commonly used. The percent change distinction between "change" and "difference" depends on whether or not one of the quantities being compared is considered a standard how can accuracy of a measurement be increased or reference or starting value. When this occurs, the term relative change (with respect to the reference value) is used and otherwise the term relative difference is preferred. Relative difference is often used as http://www.mathsisfun.com/data/percentage-difference-vs-error.html a quantitative indicator of quality assurance and quality control for repeated measurements where the outcomes are expected to be the same. A special case of percent change (relative change expressed as a percentage) called percent error occurs in measuring situations where the reference value is the accepted or actual value (perhaps theoretically determined) and the value being compared to it is experimentally determined (by measurement). Contents 1 https://en.wikipedia.org/wiki/Relative_change_and_difference Definitions 2 Formulae 3 Percent error 4 Percentage change 4.1 Example of percentages of percentages 5 Other change units 6 Examples 6.1 Comparisons 7 See also 8 Notes 9 References 10 External links Definitions[edit] Given two numerical quantities, x and y, their difference, Δ = x - y, can be called their actual difference. When y is a reference value (a theoretical/actual/correct/accepted/optimal/starting, etc. value; the value that x is being compared to) then Δ is called their actual change. When there is no reference value, the sign of Δ has little meaning in the comparison of the two values since it doesn't matter which of the two values is written first, so one often works with |Δ| = |x - y|, the absolute difference instead of Δ, in these situations. Even when there is a reference value, if it doesn't matter whether the compared value is larger or smaller than the reference value, the absolute difference can be considered in place of the actual change. The absolute difference between two values is not always a good way to compare the numbers. For instance, the absolute difference of 1 between 6 and 5 is more significant than the same absolu
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