DocumentCode
2670358
Title
A new measure of forecast accuracy
Author
Chen, Haijun ; Wu, Lifeng
Author_Institution
Dept. of Math., Handan Coll., Handan, China
fYear
2010
fDate
17-19 Sept. 2010
Firstpage
710
Lastpage
712
Abstract
In this paper, we present a new measure of forecast accuracy: a modified mean absolute percentage error (MAPE). As a means of establishing the goodness of fit, we set different objective functions, by implementation of a global optimization algorithm, the results of setting the objective function as modified MAPE are compared with the results of setting the objective function as MAPE, comparisons demonstrate that modified MAPE comes with lower prediction error.
Keywords
error analysis; forecasting theory; mean square error methods; optimisation; forecast accuracy; global optimization algorithm; mean absolute percentage error; Accuracy; Data models; Forecasting; Mathematical model; Optimization; Predictive models; Forecasting; MAPE; Modified MAPE;
fLanguage
English
Publisher
ieee
Conference_Titel
Information and Financial Engineering (ICIFE), 2010 2nd IEEE International Conference on
Conference_Location
Chongqing
Print_ISBN
978-1-4244-6927-7
Type
conf
DOI
10.1109/ICIFE.2010.5609455
Filename
5609455
Link To Document