mean forecast
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Mean absolute percentage error — (MAPE) is measure of accuracy in a fitted time series value in statistics, specifically trending. It usually expresses accuracy as a percentage, and is defined by the formula: where At is the actual value and Ft is the forecast value. The… … Wikipedia
Mean absolute scaled error — In statistics, the mean absolute scaled error (MASE) is a measure of the accuracy of forecasts . It was proposed in 2006 by Australian statistician Rob Hyndman, who described it as a generally applicable measurement of forecast accuracy without… … Wikipedia
Mean percentage error — In statistics, the mean percentage error (MPE) is the computed average of percentage errors by which estimated forecasts differ from actual values of the quantity being forecast. Formula for mean percentage error calculation is: where at is the… … Wikipedia
Forecast error — In statistics, a forecast error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest. In simple cases, a forecast is compared with an outcome at a single time point… … Wikipedia
Mean absolute error — In statistics, the mean absolute error (MAE) is a quantity used to measure how close forecasts or predictions are to the eventual outcomes. The mean absolute error is given by As the name suggests, the mean absolute error is an average of the… … Wikipedia
Forecast — Die Prognose (griechisch, πρóγνωσις – wörtlich „das Vorwissen“, die „Voraus Kenntnis“), deutsch Vorhersage oder Voraussage, selten auch: Prädiktion (lat. praedicare „ im Voraus“ und „sagen“) bezeichnet die Aussagen über Ereignisse, Zustände oder… … Deutsch Wikipedia
mean absolute deviation — MAD A measure of forecast error, for example when carrying out adaptive exponential smoothing of time series data. MAD is the average forecast error, either positive or negative, calculated as the sum of the absolute value of forecast error for… … Big dictionary of business and management
Calculating Demand Forecast Accuracy — upply Chain forecastingUnderstanding customer demand is key to any manufacturer to make and keep sufficient long lead inventory so that customer orders can be correctly met. Forecasts are never perfect but are valuable in better preparedness for… … Wikipedia
Consensus forecast — In a number of sciences, ranging from econometrics to meteorology, consensus forecasts are predictions of the future that are created by combining together several separate forecasts which have often been created using different methodologies.… … Wikipedia
Shipping Forecast — The Shipping Forecast is a four times daily BBC Radio broadcast of weather reports and forecasts for the seas around the coasts of the British Isles. It is produced by the Met Office and broadcast by BBC Radio 4 on behalf of the Maritime and… … Wikipedia
Consensus forecast — The mean of all financial analysts forecasts for a company. The New York Times Financial Glossary * * * consensus forecast UK US noun [C] ► ECONOMICS, FINANCE a method of measuring how successful a company or the economy will be. A consensus… … Financial and business terms
