MAPE

It is an acronym for mean absolute percentage error. MAPE is used to measure the accuracy of a forecast system. The accuracy is measured in terms of percentage. MAPE can be calculated using the following formula:

MAPE = (1 / n) * Σ(|At – Ft| / |At|) * 100

Here,
n: Represents the number of fitted points
At: Represents the actual value,
Ft: Represents the forecast value.
Σ: Symbol used to denote summation

MAPE is quite common and used to forecast errors. It works most efficiently when their extremes don’t exist in the data.

In this article, we are going to see how to calculate MAPE in R Programming Language.