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What is Mean Absolute Error (MAE)? Mean Absolute Error refers to the magnitude of difference between the prediction of an observation and the true value of that observation. - MAE can also be referred as L1 loss function. - Most commonly used loss functions for regression problems MAE determines Underfitting and Overfitting Underfitting - when a machine learning model performs very poorly on new data or validation set. Overfitting - when a machine learning model performs poorly on training data
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