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Methodologies / fx-forecast-accuracy

Forecast Accuracy Statistics

Mean error, MAE, MAPE, and bias for forecast vs actual.

v1.0fx-forecast-accuracy

Formula

MAE = mean(|f−a|); MAPE = mean(|f−a|/|a|); bias = mean(f−a)/|mean(a)|

Assumptions

Points are comparable units.

Limitations

MAPE skips actual = 0; descriptive only.

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