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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. See also
Forecast errors can be evaluated using a variety of methods namely mean percentage error, root mean squared error, mean absolute percentage error, ...
For correlated random variables the sample variance needs to be computed according to the Markov chain central limit theorem.. Independent and identically distributed random variables with random sample size
Propagation of uncertainty. In statistics, propagation of uncertainty (or propagation of error) is the effect of variables ' uncertainties (or errors, more specifically random errors) on the uncertainty of a function based on them. When the variables are the values of experimental measurements they have uncertainties due to measurement ...
The arithmetic mean of a set of observed data is equal to the sum of the numerical values of each observation, divided by the total number of observations. Symbolically, for a data set consisting of the values , the arithmetic mean is defined by the formula: [2] (For an explanation of the summation operator, see summation .)
As Manu.m pointed out in the edit summary, "Alternative definitions" is the wrong header name to use. But there is too much similarity between the topics to have separate articles. The content at WMAPE should be placed into a top-level section called "Weighted mean absolute percentage error". Wikiacc 02:51, 12 July 2022 (UTC) Reply
The Huber loss is the convolution of the absolute value function with the rectangular function, scaled and translated. Thus it "smoothens out" the former's corner at the origin. Comparison of Huber loss with other loss functions used for robust regression.
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]