The actual value of the time series at time t and the forecast value for time t is denoted by At and Ft respectively.What is the formula used for calculating the mean absolute percentage error over a range of forecasted values?
A)MAPE = $\frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { 2 } \right| } { n }$

B)MAPE = $\sqrt { \frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { 2 } \right| } { n } }$

C)MAPE = $\frac { \sum _ { t = 1 } ^ { n } \left| A _ { t } - F _ { t } \right| } { n }$

D)MAPE = $\frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { A _ { t } } \right| } { n }$ × 100

Question

The actual value of the time series at time t and the forecast value for time t is denoted by At and Ft respectively.What is the formula used for calculating the mean absolute percentage error over a range of forecasted values?
A)MAPE = $\frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { 2 } \right| } { n }$

B)MAPE = $\sqrt { \frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { 2 } \right| } { n } }$

C)MAPE = $\frac { \sum _ { t = 1 } ^ { n } \left| A _ { t } - F _ { t } \right| } { n }$

D)MAPE = $\frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { A _ { t } } \right| } { n }$ × 100

Quizplus · Accepted Answer

The Mean Absolute Percentage Error (MAPE) is calculated using the formula: MAPE = $\frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } - F _ { t } } { A _ { t } } \right| } { n }$ × 100. This measures the accuracy of a forecasting method by expressing errors as a percentage of the actual values.

The Actual Value of the Time Series at Time T ∑t=1n∣At+Ft2∣n\frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { 2 } \right| } { n }n∑t=1n​∣2At​+Ft​​∣​

The Actual Value of the Time Series at Time T $\frac { \sum _ { t = 1 } ^ { n } \left| \frac { A _ { t } + F _ { t } } { 2 } \right| } { n }$