RMSEvel

RMSEvel is a metric used to evaluate the performance of regression models. It is the square root of the Root Mean Squared Error (RMSE), which itself is a measure of the differences between values predicted by a model and the values observed. The RMSEvel quantifies the typical magnitude of the error, meaning it represents how close the predicted values are to the actual values on average. A lower RMSEvel indicates a better fit of the model to the data. It is a commonly used metric because it is easy to interpret and provides an error measure in the same units as the target variable. RMSEvel is sensitive to outliers, meaning large errors have a disproportionately large impact on its value. It is calculated by taking the square root of the average of the squared differences between predicted and actual values. This makes it a more intuitive measure of error compared to MSE (Mean Squared Error) alone, as it returns the error to the original scale of the target variable.