Mean Absolute Percentage Error Calculator Math

The computation of percentage error involves the use of the absolute error which is simply the difference between the observed and the true value. A measure used to find how much the values in a data set vary from their mean is called as the mean absolute deviation. It can be calculated by finding the mean of the values first and then find the difference between each value and the mean.

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Refer to the equations below for clarification.

Mean absolute percentage error calculator math. It is also termed as mean deviation or average absolute deviation. Mean absolute percentage error calculator mean percentage calculator symmetric mean absolute percentage error calculator. In simple terms it s the difference of the measured value to the known true value. Take the absolute value of each difference and find the mean of the difference which is termed as mad.

In this case the true value must be known to determine the real error. Absolute error v true v observed. Actual the actual data value. Note that this is equivalent to dividing the sum of absolute differences by the sum of actual values and is sometimes referred to as wape weighted absolute percentage error.

σ a fancy symbol that means sum n sample size. The mean absolute percentage error mape also known as mean absolute percentage deviation mapd is a measure of prediction accuracy of a forecasting method in statistics for example in trend estimation also used as a loss function for regression problems in machine learning. The formula is usually displayed as follows. The formula to calculate mape is as follows.

One of the most common metrics used to measure the forecasting accuracy of a model is mape which stands for mean absolute percentage error. Mape 1 n σ actual forecast actual 100. The absolute error is then divided by the true value resulting in the relative error which is multiplied by 100 to obtain the percentage error. Issues edit although the concept of mape sounds very simple and convincing it has major drawbacks in practical application 3 and there are many studies on shortcomings and misleading results from mape.

Percent error is used to determine the accuracy of an experiment or measurement. The mape mean absolute percent error measures the size of the error in percentage terms.