1.3.2. MAE (L1 Loss)

Mean Absolute Error (L1 Loss)

The Mean Absolute Error (MAE) is the average absolute loss across a dataset,
$MAE=\frac{1}{n}{\sum }_{i=1}^n|y_i-{\hat{y}}_i|$
where $y_i$ is the actual value, and $\widehat{y_i}$ is the predicted value for a given observation $i$.