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In contrast to the mean absolute percentage error, SMAPE has both a lower and an upper bound. Indeed, the formula above provides a result between 0% and 200%. Indeed, the formula above provides a result between 0% and 200%.
Any non-linear differentiable function, (,), of two variables, and , can be expanded as + +. If we take the variance on both sides and use the formula [11] for the variance of a linear combination of variables (+) = + + (,), then we obtain | | + | | +, where is the standard deviation of the function , is the standard deviation of , is the standard deviation of and = is the ...
A percentage change is a way to express a change in a variable. It represents the relative change between the old value and the new one. [6]For example, if a house is worth $100,000 today and the year after its value goes up to $110,000, the percentage change of its value can be expressed as = = %.
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.
For example, if the mean height in a population of 21-year-old men is 1.75 meters, and one randomly chosen man is 1.80 meters tall, then the "error" is 0.05 meters; if the randomly chosen man is 1.70 meters tall, then the "error" is −0.05 meters.
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In most indicating instruments, the accuracy is guaranteed to a certain percentage of full-scale reading. The limits of these deviations from the specified values are known as limiting errors or guarantee errors. [6]
Gravimetric analysis describes a set of methods used in analytical chemistry for the quantitative determination of an analyte (the ion being analyzed) based on its mass. The principle of this type of analysis is that once an ion's mass has been determined as a unique compound, that known measurement can then be used to determine the same analyte's mass in a mixture, as long as the relative ...