Mean Percentage Error
Encyclopedia
In statistics
, the mean percentage error (MPE) is the computed average of percentage errors by which estimated forecasts differ from actual values of the quantity being forecast.
Formula for mean percentage error calculation is:
where at is the actual value of the quantity being forecast, and ft is the forecast.
Statistics
Statistics is the study of the collection, organization, analysis, and interpretation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments....
, the mean percentage error (MPE) is the computed average of percentage errors by which estimated forecasts differ from actual values of the quantity being forecast.
Formula for mean percentage error calculation is:
where at is the actual value of the quantity being forecast, and ft is the forecast.
See also
- Percentage error
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