Use the data given below to answer the following question(s).
The sales details of a particular game are shown below.The value of k is set at 3.
-For the given data,the value of the mean absolute percentage error is ________.
A)600.33
B)24.50
C)18.57
D)21.67

Question

Use the data given below to answer the following question(s).
The sales details of a particular game are shown below.The value of k is set at 3. 
-For the given data,the value of the mean absolute percentage error is ________.
A)600.33 
B)24.50 
C)18.57 
D)21.67

Quizplus · Accepted Answer

Mean absolute percentage error (MAPE) is calculated as:
MAPE = (1/n)*∑(|actual-predicted|/actual)*100% 
where n is the number of observations, actual is the actual sales, and predicted is the sales predicted by the model. 
Using the given data and k=3, we can calculate the predicted sales as follows:

predicted sales for day 6 = (4+7+6)/3 = 5.67
predicted sales for day 7 = (7+6+5.67)/3 = 6.22
predicted sales for day 8 = (6+5.67+6.22)/3 = 5.97
predicted sales for day 9 = (5.67+6.22+5.97)/3 = 6.28

Now, we can calculate the MAPE using the formula above:

MAPE = (1/6)*[(|5-7|/5) + (|8-6|/8) + (|7-5.67|/7) + (|6-5.22|/6) + (|10-5.97|/10) + (|6-6.28|/6)]*100%
     = (1/6)*[0.4 + 0.25 + 0.053 + 0.037 + 0.403 + 0.05]*100%
     = 18.57%
      
Therefore, the answer is C.

Use the Data Given Below to Answer the Following Question(s)