MAE in statistics and Machine Learning (ML) stands for the Mean Absolute Error. MAE is the average of the sum of the differences between the actual and predicted values in a dataset. In other words the MAE is the calculation of the the average of the residuals. MAE is expressed by the following mathematical formula.

where yi = the actual value of y for i=1, N is the size of the dataset and y^ is the predicted value for each yi.

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