ABSOLUTE ERROR AND RELATIVE ERROR
Absolute Error = Approximate Value - True Value
Relative (percent) Error = Absolute error / True Value 100
Equivalently, Approximate Value = (True Value) (1 + Relative error)
True Value is usually unknown. So, we estimate or bound error rather than compute it
exactly.
For the same reason, relative error is often taken to be relative to approximate value, rather
than true value.