Mean Absolute Error (MAE)

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What is the formula for calculating MAE?

  1. MAE = (1/n) * Σ|y_i - y_hat_i|
  2. MAE = (1/n) * Σ(y_i - y_hat_i)^2
  3. MAE = (1/n) * Σy_i * y_hat_i
  4. MAE = (1/n) * Σ(y_i + y_hat_i)
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