Question: In the chapter, you learned about many metrics that can be used to evaluate forecast accuracy. The MAPE was one of those that may be

In the chapter, you learned about many metrics that can be used to evaluate forecast accuracy. The MAPE was one of those that may be the most common in use. Explain what the MAPE tells a forecaster.

Step by Step Solution

3.33 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

MAPE stands for Mean Absolute Percentage Error The MAPE is one form of an average error in a forecas... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Forecasting Predictive Analytics Questions!