percentage errors

Which Forecast Error Measure Provides An Error Percentage?

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Which Forecast Error Measure Provides An Error Percentage? The MAPE (Mean Absolute Percent Error) measures the size of the error in percentage terms. It is calculated as the average of the unsigned percentage error, as shown in the example below: Many organizations focus primarily on the MAPE when assessing forecast accuracy. Is forecast error a

What Does Mean Absolute Percentage Error Tell You?

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What Does Mean Absolute Percentage Error Tell You? The mean absolute percentage error (MAPE) is a measure of how accurate a forecast system is. It measures this accuracy as a percentage, and can be calculated as the average absolute Why is mean absolute percentage error important? Mean Absolute Percent Error (MAPE) is a useful measure