What is the MAPE (mean absolute percentage error) and when would I use it for a...

What is the MAPE (mean absolute percentage error) and when would I use it for a model?

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Answer :

The MAPE :-

The MAPE (Mean Absolute Percent Error) measures the span of the mistake in rate terms.
It is determined as the normal of the unsigned rate blunder,

as appeared in the precedent underneath:

Numerous associations center principally around the MAPE while evaluating figure precision.
The vast majority are happy with deduction in rate terms, making the MAPE simple to translate.
It can likewise pass on data when you don't have the foggiest idea about the thing's interest volume.
For instance, telling your chief, "we were off by under 4%" is more important than saying "we were off by 3,000 cases," if your supervisor doesn't know a thing's run of the mill request volume.
The MAPE is scale delicate and ought not be utilized when working with low-volume information.
Notice that on the grounds that "Real" is in the denominator of the condition, the MAPE is unclear when Actual interest is zero.
Moreover, when the Actual esteem isn't zero, however very little, the MAPE will frequently take on outrageous qualities.
This scale affectability renders the MAPE near useless as a mistake measure for low-volume information.

orchestra answered 2 years ago

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