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Calculating mean absolute percentage error requires dividing the forecast error by the actual result for a...

Calculating mean absolute percentage error requires dividing the forecast error by the actual result for a period.

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Answer #1

Question:

Calculating mean absolute percentage error requires dividing the forecast error by the actual result for a period.

Answer:

Correct option:
True.

The Mean Absolute Percentage Error (MAPE) is the average of the Absolute Percentage Errors (APE) and is calculated as follows:

where

A = Actual result for a period

F = Forecast for a period

N = Number of observations

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