Average Absolute Deviation

From Open Risk Manual

Definition

Average Absolute Deviation. Average of the absolute deviations from a central point

The central point can be the mean, median, mode, or the result of another measure of central tendency. Absolute deviation is the distance between each value in the data set and that data set's mean or median.

Synonyms

  • Mean Absolute Deviation

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.

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