I've trained a KNNRegressor on predicting used car prices. A given car's actual selling price is R289,995. My model predicts R260,911. I want to be able to tell the user My knn model predicts the deal is +-10% cheaper than the actual selling price.
To accurately present this to a user and to account for the model's chance of error, would using the mean error percent (14%) in this case, be a decent way to create an approximate range? Or is this not statistically valid.
So would it be more valid to say: Prediction range: R224,000- R297,000