Question

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

Answer 1

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.