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(200% for the first formula and 100% for the second formula). Provided the data are strictly positive, a better measure of relative accuracy can be obtained based on the log of the accuracy ratio: log( F t / A t ) This measure is easier to analyse statistically, and has valuable symmetry and unbiasedness properties.
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Because actual rather than absolute values of the forecast errors are used in the formula, positive and negative forecast errors can offset each other; as a result, the formula can be used as a measure of the bias in the forecasts. A disadvantage of this measure is that it is undefined whenever a single actual value is zero.
In computing, a roundoff error, [1] also called rounding error, [2] is the difference between the result produced by a given algorithm using exact arithmetic and the result produced by the same algorithm using finite-precision, rounded arithmetic. [3] Rounding errors are due to inexactness in the representation of real numbers and the ...
For a confidence level, there is a corresponding confidence interval about the mean , that is, the interval [, +] within which values of should fall with probability . ...
In signal processing, control theory, electronics, and mathematics, overshoot is the occurrence of a signal or function exceeding its target. Undershoot is the same phenomenon in the opposite direction. It arises especially in the step response of bandlimited systems such as low-pass filters. It is often followed by ringing, and at times ...
The MSE either assesses the quality of a predictor (i.e., a function mapping arbitrary inputs to a sample of values of some random variable), or of an estimator (i.e., a mathematical function mapping a sample of data to an estimate of a parameter of the population from which the data is sampled).
The sample mean could serve as a good estimator of the population mean. Then we have: The difference between the height of each man in the sample and the unobservable population mean is a statistical error, whereas; The difference between the height of each man in the sample and the observable sample mean is a residual.