title: Measure the tradeoff between accuracy and speed of algorithms
body: <p>I have a group of algorithms A, B, C and D. Each of them has a specific execution time and a certain accuracy (MSE). Is there a formal way of calculating the tradeoff between the execution time (speed) and the accuracy?</p>
  
  <p>For example if A has an accuracy of 0.1 and a computational time of 3s, whereas algorithm B has a better accuracy at 0.095, but needs 150s to execute. Although B performs slightly better, the tradeoff should favor A, since it takes considerably less time to execute.</p>
  
  <p>Is there any equation or formal approach I can use to calculate this tradeoff?</p>