Lesson 1 : Train_loss, valid_loss, error_rate

Hi Dear friends.
Today, I completed lesson one and I tried to use my own dataset and i did it successfully. My question is that what are these train_loss, valid_loss, error_rate terms. I did not get it properly.
Sorry for this easy question.

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In lesson 1 we are doing multi-class classification so the the loss function(in this case train_loss and the valid_loss is CROSS-ENTROPY LOSS)
and the error rate is simply 1-accuracy.