1. A method for determining an analyte concentration in a sample using a biosensor, comprising: generating at least two analyte responsive output signals from a sample; measuring the two analyte responsive output signals from the sample; determining at least two initial analyte concentrations from the two analyte responsive output signals; determining a first pseudo-reference concentration from the two analyte responsive output signals, the first pseudo-reference concentration being a first substitute for true relative error; determining at least two first anchor parameters in response to the first pseudo-reference concentration, the two first anchor parameters compensating for system error, at least one of the two first anchor parameters being a first channel signal-based anchor parameter determined in response to a first normalized output signal and a pseudo-reference signal, the first channel signal-based anchor parameter=(NR OSV1 −NR Pseudo )/NR Pseudo , NR OSV1 being a first normalized output signal value and NR Pseudo being a pseudo-reference signal; incorporating the two first anchor parameters into at least two first compensation relationships, at least one of the two first compensation relationships including Ach1_comp=Ach1initial/(1+RECh1), Ch1 being channel 1, Ach1_comp being the anchor parameter compensated analyte concentration determined for channel 1, Ach1 initial being the initial analyte concentration determined for channel 1; determining at least two first anchor compensated analyte concentrations in response to the two initial analyte concentrations, the two first anchor parameters, and the two first compensation relationships; determining a second pseudo-reference concentration by averaging the two first anchor compensated analyte concentrations, the second pseudo-reference concentration being a second substitute for true relative error; and reporting the second pseudo-reference concentration as a final compensated analyte concentration of the sample.