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| Mean absolute percentage Error (MAPE): |
Free online MAPE Calculator – Calculate the mean absolute percentage error (MAPE) with our easy-to-use calculator. Enter your predicted and actual values, then click the calculate button.
Mean Absolute Percentage (MAPE) Formula
The formula of root mean absolute percentage error (MAPE) is as follows:
MAPE = (1/n) * Σ(Ai – Pi) / Ai * 100
where:
- MAPE = mean square percentage error
Σ = summation operator
Pi = predicted value for the ith observation
Ai = observed value(Actual Value) for the ith observation
n = number of observations
How to Calculate MAPE?
To calculate the Mean Absolute Percentage Error (MAPE), follow these steps:
Step 1: Gather data
Collect the actual values (Ai) and the corresponding forecasted or predicted values (Pi ) for a set of observations.
Step 2: Compute absolute percentage errors
For each observation, calculate the absolute percentage error using the formula
Absolute Percentage Error = (Ai – Pi) / Ai
Step 3: Calculate MAPE
To find the Mean Absolute Percentage Error, take the average of all the absolute percentage errors:
Step 4: Convert to percentage
The MAPE value is expressed as a percentage, indicating the average absolute percentage error across all observations.
What is mean absolute percentage error (MAPE)
Mean Absolute Percentage Error (MAPE) is a metric used to evaluate the accuracy of a prediction method. It measures the percentage difference between the predicted values and the actual values.