re: Question for Statistics Gurus

Red line is ideal (which is not always 0, but typically is), blue is regression.

I am not seeking to simply compute error....the system already does that with the RMSECV.


I was looking for a way to draw the line in the sand for what an acceptable error statistically speaking would be.


Here is another graph, from one of the messier models to illustrate what I mean:



The vast majority of samples are centered around zero. The overall error is also fairly low, +/- 3%



But there are some that are far outside that in spite of not being outliers, with an error closer to 30%.


My question is if there is an statistical method of where I can draw a line of acceptable error? Like if a certain number of samples is allowed outside of a range, but no more?