The weighted loss value for a quantile. This object is part of the Metrics object.
The difference between the predicted value and the actual value over the quantile, weighted (normalized) by dividing by the sum over all quantiles.
The quantile. Quantiles divide a probability distribution into regions of equal probability. For example, if the distribution was divided into 5 regions of equal probability, the quantiles would be 0.2, 0.4, 0.6, and 0.8.