using the data below, what is the value of the mean absolute percent error (mape)? week time series value forecast 1 17 18.00 2 25 20.00 3 14 15.00 4 23 14.00

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Answer 1

The value of the mean absolute percent error (mape)

What is mean?

Mean is an average value calculated by adding a set of numbers and then dividing by the number of items in the set. It is a measure of central tendency in a set of data and is often used to describe the overall trend or pattern in the data. Mean can also be used to compare sets of data and is often used to compare the performance of different groups of people or businesses.

The mean absolute percent error (MAPE) is a measure of the accuracy of a forecast. It is calculated by taking the mean of the absolute percent errors (the difference between the forecast and the actual value), divided by the mean of the actual values.

For the given data, the MAPE is calculated as follows:

MAPE = (|18.00 - 17| + |20.00 - 25| + |15.00 - 14| + |14.00 - 23|)/(17 + 25 + 14 + 23) = 0.30

Therefore, the mean absolute percent error (MAPE) for the given data is 0.30.

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Related Questions

a byte-addressable main memory of size 256mb with blocks of 32 bytes in size. the cache memory can hold up to 64 blocks

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The main memory can hold a total of (256 * 1024 * 1024) / 32 = 8,388,608 blocks.

What are main and cache memory?

he main memory in this system has a size of 256 megabytes, which is equal to 256 * 1024 * 1024 bytes. With blocks of 32 bytes in size, this means that the main memory can hold a total of (256 * 1024 * 1024) / 32 = 8,388,608 blocks.

The cache memory, on the other hand, can hold up to 64 blocks. This means that it can store a small fraction of the data that is stored in the main memory. In order to access data that is not stored in the cache, the system must fetch it from the main memory, which takes longer than accessing data directly from the cache.

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