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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.
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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%.
Any non-linear differentiable function, (,), of two variables, and , can be expanded as + +. If we take the variance on both sides and use the formula [11] for the variance of a linear combination of variables (+) = + + (,), then we obtain | | + | | +, where is the standard deviation of the function , is the standard deviation of , is the standard deviation of and = is the ...
In fluid dynamics, normalized root mean square deviation (NRMSD), coefficient of variation (CV), and percent RMS are used to quantify the uniformity of flow behavior such as velocity profile, temperature distribution, or gas species concentration. The value is compared to industry standards to optimize the design of flow and thermal equipment ...
One can then also calculate the mean square of the model by dividing the sum of squares of the model minus the degrees of freedom, which is just the number of parameters. Then the F value can be calculated by dividing the mean square of the model by the mean square of the error, and we can then determine significance (which is why you want the ...
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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.