The mean absolute percentage error is useful because it presents errors as a percentage and makes it easy to compare forecasts from two different datasets.

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Quizplus · Accepted Answer

The statement is correct. The mean absolute percentage error (MAPE) is a widely used metric to evaluate the accuracy of forecasting models. This metric expresses forecast errors as a percentage of the actual values, and hence, it is easy to compare forecasts from different datasets. MAPE is also an intuitive metric that is easy to interpret and communicate to non-technical stakeholders.

The Mean Absolute Percentage Error Is Useful Because It Presents