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Mean Absolute Percentage Error Calculator

MAPE Formula:

\[ \text{MAPE} = \frac{100\%}{n} \sum_{i=1}^{n} \left| \frac{\text{Actual}_i - \text{Forecast}_i}{\text{Actual}_i} \right| \]

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1. What is Mean Absolute Percentage Error (MAPE)?

Definition: MAPE is a statistical measure of prediction accuracy that expresses the error as a percentage of the actual values.

Purpose: It's commonly used in forecasting to evaluate the accuracy of predictive models across different scales.

2. How Does the Calculator Work?

The calculator uses the formula:

\[ \text{MAPE} = \frac{100\%}{n} \sum_{i=1}^{n} \left| \frac{\text{Actual}_i - \text{Forecast}_i}{\text{Actual}_i} \right| \]

Where:

Explanation: For each pair of actual and forecast values, the calculator computes the absolute percentage error, averages them, and expresses as a percentage.

3. Importance of MAPE

Details: MAPE is widely used because it's scale-independent and easy to interpret. Lower MAPE values indicate better forecasting accuracy.

4. Using the Calculator

Tips:

5. Frequently Asked Questions (FAQ)

Q1: What is a good MAPE value?
A: Generally:

Q2: What are MAPE's limitations?
A: MAPE can't handle zero actual values and penalizes negative errors more than positive ones. It's also asymmetric.

Q3: When shouldn't I use MAPE?
A: Avoid MAPE when actual values contain zeros or when the data has a natural zero point (like temperature in Celsius/Fahrenheit).

Q4: Are there alternatives to MAPE?
A: Yes, alternatives include Mean Absolute Error (MAE), Mean Squared Error (MSE), or Symmetric Mean Absolute Percentage Error (sMAPE).

Q5: How do I interpret a MAPE of 15%?
A: On average, your forecasts are off by 15% from the actual values, regardless of whether they're over or under predictions.

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