Mean percentage error


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:

 \text{MPE} = \frac{1}{n}\sum_{t=1}^n \frac{f_t-a_t}{a_t}

where at is the actual value of the quantity being forecast, and ft is the forecast.

See also

References

  • Khan, Aman U.; Hildreth, W. Bartley (2003). Case studies in public budgeting and financial management. New York, N.Y: Marcel Dekker. ISBN 0-8247-0888-1. 
  • Waller, Derek J. (2003). Operations Management: A Supply Chain Approach. Cengage Learning Business Press. ISBN 1-86152-803-5. 

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