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Because actual rather than absolute values of the forecast errors are used in the formula, positive and negative forecast errors can offset each other; as a result, the formula can be used as a measure of the bias in the forecasts. A disadvantage of this measure is that it is undefined whenever a single actual value is zero.
Download as PDF; Printable version; In other projects ... The use of the MAPE as a loss function for regression analysis is feasible ... For forecasts which are too ...
In contrast to the mean absolute percentage error, SMAPE has both a lower and an upper bound. Indeed, the formula above provides a result between 0% and 200%. Indeed, the formula above provides a result between 0% and 200%.
Download QR code; Print/export Download as PDF; ... Mean percentage error; Symmetric mean absolute percentage error; References This page was last edited on ...
For a Type I error, it is shown as α (alpha) and is known as the size of the test and is 1 minus the specificity of the test. This quantity is sometimes referred to as the confidence of the test, or the level of significance (LOS) of the test.
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When the model has been estimated over all available data with none held back, the MSPE of the model over the entire population of mostly unobserved data can be estimated as follows.
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